Baker Hughes and Cactus formed a joint venture for $350m.

Baker Hughes, an energy technology company and Cactus, a global manufacturing company formed a joint venture, for $350m. The completion of this transaction represents an important milestone in Baker Hughes’ value-creation strategy, reinforcing the Company’s commitment to disciplined portfolio management, operational execution and capital efficiency. This transaction enhances earnings and cash flow durability, enables the redeployment of capital toward higher-return opportunities, and provides cash proceeds to further strengthen the balance sheet, all within a rigorous, returns-focused approach to capital allocation.