Report: Baker Hughes Incorporated In Buyout Talks

Baker Hughes Inc. BHI shares jumped Wednesday on a rumor it could be acquired by Halliburton Co. HAL. Houston-based Baker traded recently up more than 17 percent to $59.75 a share. Halliburton gained 2.7 percent to $54.64 a share. Negotiations with Halliburton are rapidly progressing and could soon result in a deal, according to unidentified sources cited by The Wall Street Journal Wednesday. https://twitter.com/WSJmarkets No prospective price was mentioned in the report. With a $26.13 billion market capitalization, the value of Baker Hughes has declined more than 14 percent in the past three months. The oil field services sector which includes both Baker Hughes and Halliburton has struggled with plunging energy prices. Halliburton, with a market cap of $47.69, has seen its shares drop 20 percent since August.