DALLAS, Aug. 31, 2009 (GLOBE NEWSWIRE) -- Kendall Law Group, led by a former federal judge and former US Attorney, announces a shareholder investigation on behalf of BJ Services Company (NYSE:BJS) shareholders.
The firm's investigation concerns the announcement that Baker Hughes Inc. plans to purchase BJ Services for $5.5 billion, enabling Baker Hughes to broaden its product line and take on competitors Halliburton Co. and Schlumberger Ltd. for projects that require multiple services. Under the terms of the agreement, shareholders will receive 0.40035 shares of Baker Hughes stock as well as $2.69 in cash for each share of BJ Services that they own. 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, soon after BJ Services stock was trading at a 52-week high of over $28.00 per share.
Kendall Law Group has nationwide experience representing investors, at no cost, in mergers and acquisitions. For information about your rights as a BJ Services shareholder, contact attorney Hamilton Lindley at 877-744-3728 or by email at hlindley@kendalllawgroup.com.
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