Hess Corp. ended a four-month proxy battle with billionaire Paul Singer’s Elliott Management Corp., adding three of the activist investor’s five board nominees and heading off a shareholder vote on competing candidates.
Hess Corp., the oil company that’s in a proxy battle with billionaire Paul Singer’s Elliott Management Corp., said it will strip Chief Executive Officer John B. Hess of the chairmanship after its annual meeting next week.
General Electric Co. agreed to buy most of Converteam from Barclays Private Equity Ltd. and LBO France for $3.2 billion to add equipment that helps electricity flow to the power grid from devices such as wind turbines.
General Electric Co.’s severance accord with retiring executive John Krenicki will keep him from competing with the company for three years. That may say more about his value than the $12.9 million in cash he will receive.
Lack of U.S. and international energy policies is allowing trade barriers that curb the spread of so-called green technologies and make them more expensive, General Electric Co. Vice Chairman John Krenicki said.
General Electric Co. agreed to buy oil-field equipment maker Dresser Inc. for $3 billion, expanding its biggest industrial unit, as Chief Executive Officer Jeffrey Immelt begins spending cash accumulated over the past two years.
General Electric Co. , whose equipment generates about one-third of the world’s power, expects energy and health care to drive revenue in India to a $10 billion goal in five years, Chief Executive Officer Jeffrey Immelt said.