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Baker Hughes changes name after GE pares down stake

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Baker Hughes changes name after GE pares down stake

Baker Hughes, a GE company changed its name to Baker Hughes Co., according to an Oct. 17 news release.

The name change comes after the company closed its secondary offering of class A common shares and a concurrent share repurchase, which decreased General Electric Co. and its affiliates' ownership in Baker Hughes to less than 50% of the voting power of all classes of the company's voting stock.

Baker Hughes' class A common stock will begin trading Oct. 18 on the New York Stock Exchange under the symbol BKR.

Houston-based Baker Hughes provides oilfield equipment and services.