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GE Bets on Shale

Thu, 05/02/2013 - 9:02am
CNN Money

General Electric recently made a huge bet on shale, buying an oil and gas equipment company called Lufkin Industries for $3.3 billion. The purchase will boost GE's portfolio of U.S. energy businesses. Shares of both Lufkin and GE were up with word of the news.

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