GE to acquire oilfield services provider Lufkin for $3.3 bln

April 8 Mon Apr 8, 2013 6:58am EDT

April 8 (Reuters) - General Electric Co said it will buy oilfield services provider Lufkin Industries Inc for about $3.3 billion.

The offer values Lufkin at $88.50 per share, representing a premium of 38 percent to the stock's Friday close.

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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