GE (GE) finally meets with success in its bid to buy Wellstream, and will pay £800M ($1.3B) for...

|By:, SA News Editor

GE (GE) finally meets with success in its bid to buy Wellstream, and will pay £800M ($1.3B) for the U.K. oilfield services firm, a 29% premium to Wellstream's share price before deal talks were made public. It's GE's second industry acquisition this year as it works to deploy some of its $20B war chest and cut its reliance on its finance unit.