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The Wall Street Journal: General Electric said to explore Baker Hughes purchase

General Electric Co. is pursuing an acquisition of Baker Hughes Inc., according to people familiar with the matter, a transaction that would be the biggest in the history of the industrial giant and extend its bet on the battered oil industry.

GE GE, -0.83% has approached the oil-field services company about a takeover, the people said, but details of the talks couldn’t be learned, and the talks could fall apart before an agreement is reached.

With a market value of $23 billion, Houston-based Baker Hughes BHI, -0.38% could go for more than $30 billion in a takeover, given the typical premium.

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