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GE makes billion dollar offer for Lufkin Industries

GE makes billion dollar offer for Lufkin Industries
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POSTED: Monday, April 8, 2013 - 6:37am

UPDATED: Monday, April 8, 2013 - 6:38am

General Electric said it planned to buy energy company Lufkin Industries for $3.3 billion.

Shares of Lufkin, which builds and maintains equipment for oil and gas wells, surged in premarket trading.

According to their website, Lufkin Industries is a world leader in its field, providing precision engineered oilfield equipment and power transmission products to customers around the globe.

 

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