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GE to acquire oilfield services provider Lufkin for $3.3 billion

2013-04-08T110131Z_1_CBRE9370UMQ00_3_GE.JPG

 (Copyright Reuters 2013)

General Electric Co said it will buy oilfield services provider Lufkin Industries Inc for about $3.3 billion.

The offer values Lufkin at $88.50 per share, representing a premium of 38 percent to the stock's Friday close.

(Reporting by A. Ananthalakshmi in Bangalore)