Sponsored Links

Diverging growth outlook drives shares, dollar firm

LONDON - The global economy's diverging fortunes knocked emerging markets from a two-week high and sapped recent gains in European shares, while Japan's Nikkei index hit its best level in five weeks on the yen's weakness.

» More Business News

Square's website for small businesses takes on e-commerce giants

SAN FRANCISCO - Since 2010, Square Inc's matchbox-sized card readers have steadily supplanted credit card machines in coffee shops and corner stores across the United States.

» More Small Business News

China denounces EU airline carbon law, seeks talks

BEIJING/HONG KONG - China reiterated its opposition on Thursday to a European Union plan to limit airline carbon dioxide emissions and called for talks to resolve the issue a day after its major airlines refused to pay any carbon costs under the new law.

» More Green Business News

Lufkin says probe reveals no breach of fiduciary duties on GE deal

Wed Jun 26, 2013 5:45pm EDT

(Reuters) - Oilfield pump maker Lufkin Industries LUFK.O said on Wednesday a special committee probe did not reveal any breach of fiduciary duties by its board on GE's (GE.N) takeover deal as alleged by two of its shareholders.

General Electric won U.S. antitrust approval in May to buy Lufkin in a $2.98 billion deal that will allow GE to sharply increase its presence in the fast-growing market to extract oil and natural gas from shale.

Lufkin's board said it would not pursue the allegations after reviewing the committee's presentation. (link.reuters.com/byv29t)

The company's shares closed at $88.46 on the Nasdaq on Wednesday. GE's shares closed at $23.25 on the New York Stock Exchange.

(Reporting by Mridhula Raghavan in Bangalore; Editing by Sreejiraj Eluvangal)
Deals
Global Deals Review: 2011 Q3
Global Deals Review: 2011 Q2
Global Deals Review
Inflows Outflows
 
We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/
Comments (0)
Be the first to comment on reuters.com.
Add yours using the box above.