Business
Baker Hughes and Smith International agreed Friday to settle a 14-year-old patent infringement case for $95 million, less than half the $204.6 million that Smith originally had been ordered to pay by a federal judge.
June 6, 1987
World & Nation
Directors of Hughes Tool on Wednesday rejected as “unreasonable” conditions that the Justice Department has sought to impose on its proposed merger with rival oil services firm Baker International.
Feb. 26, 1987
After winning what it called important concessions from the Justice Department, Hughes Tool on Wednesday accepted the overwhelming vote of its shareholders and took steps to go forward with its proposed $1.2-billion merger with Baker International.
March 12, 1987
After winning what it called important concessions from the Justice Department, Hughes Tool Co. on Wednesday accepted the overwhelming vote of its shareholders and took steps to go forward with its proposed $1.2-billion merger with Baker International.
Baker International Inc. probably will sell its drill-bit and pump-manufacturing operations in an effort to allay U.S Justice Department antitrust concerns about its proposed merger with Hughes Tool Co.
Jan. 27, 1987
In a move applauded by Wall Street, Smith International said Thursday that Jerry W.
Dec. 11, 1987
Smith International Inc. won a week’s extension Tuesday for filing a bankruptcy reorganization plan because its creditors agreed that intense daily negotiations are bringing the parties closer to agreement on a debt-repayment program.
July 15, 1987
As part of a plan to resolve Justice Department objections to a merger with Hughes Tool Co., Baker International Corp. said Tuesday that it has agreed to sell its domestic electric submersible pump business to Trico Industries Inc. for an undisclosed price.
Feb. 18, 1987
Smith International Inc. of Newport Beach, once one of the world’s largest oil services companies, said Monday that it has reached a tentative settlement in its 16-month bankruptcy reorganization and expects to resume normal business operations by the end of the year.
July 21, 1987