ValueAct buys 5.1 percent stake in Baker Hughes
Activist hedge fund ValueAct Capital disclosed a 5.1 percent stake in Baker Hughes Inc (BHI.N), the world's No. 3 oilfield services company that has agreed to be bought by bigger rival Halliburton Co (HAL.N) for $35 billion in cash and stock.
ValueAct is now the third-largest shareholder in Houston-based Baker Hughes.
ValueAct, whose other investments include acquisitive drugmaker Valeant Pharmaceuticals Inc (VRX.TO) (VRX.N) and fertilizer dealer Agrium Inc (AGU.TO), did not disclose in the regulatory filing any steps it wants Baker Hughes to take.)