Slaughter And May Reps GE In $1.3B Wellstream Deal

Law360, New York (December 13, 2010, 1:35 PM EST) -- General Electric Co. said Monday that it had agreed to purchase Wellstream Holdings PLC, a maker of pipeline products for the oil and gas industry, for £800 million ($1.3 billion) as it seeks to expand its offshore portfolio in emerging markets.

GE will offer Wellstream shareholders 780 pence per share and a special dividend of 6 pence per share in a deal to extend GE's reach in the floating production, storage and offloading segment of the subsea industry, the companies said in a joint statement....
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