Case Details for "BJ Services Co."

Investigation of proposed acquisition of BJ Services Co.

Lawyers are investigating potential shareholder claims arising from the proposed acquisition of BJ Services Co. ("BJ Services" or the "Company") (NYSE:BJS) by Baker Hughes, Inc. ("Baker Hughes") (NYSE:BHI). Under the terms of the proposed merger, BJ Services stockholders will receive 0.40035 shares of Baker Hughes stock and $2.69 in cash for each share of BJ Services common stock owned. Based on the closing price of Baker Hughes stock the day prior to the announcement, the transaction values BJ Services' shares at approximately $17.93 per share.

The investigation focuses on the potential unfairness of the proposed merger price and on the process by which the BJ Services Board of Directors is addressing the offer. The Company's shares traded at a 52-week high of over $28.00 per share and at least one analyst has set a $32 price target for BJ Services stock.

Posted on:09/01/2009
Company: BJ Services Co.
Affected Class: current shareholders
Scope: Nationwide

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