General Electric’s $2.33 Billion Registered Secondary Offering of Baker Hughes’s Class A Common Stock

Cravath represented the underwriters, led by Morgan Stanley, J.P. Morgan Securities, Citigroup and Goldman Sachs & Co. LLC, in connection with the $2.33 billion registered secondary offering of the class A common stock of Baker Hughes, a GE company, by the selling stockholder General Electric Company. Baker Hughes is a fullstream oilfield technology provider. The shares were listed on the New York Stock Exchange. The transaction closed on November 19, 2018.

The Cravath team included partners William V. Fogg and Andrew J. Pitts and associates Joshua Ayal, Ryan J. Patrone and Ellen H. Park on securities matters, and associate Damien J. Rose and foreign associate attorney Nicolaas Versteeg on tax matters. Megan M. Ji also worked on securities matters.