GE, Baker Hughes Combine Oil and Gas in New Company

The transcript discusses GE's strategic move to partner with Baker Hughes, highlighting the unique structure of the deal and its implications for the energy sector. It also touches on the broader trend of mergers and acquisitions in the industrial sector, with a specific focus on the CenturyLink and Level 3 deal. The conversation explores the motivations behind these deals, such as cost reduction and competition with major players like Schlumberger.

Discuss the potential future of industrial deals in the context of the GE and Baker Hughes merger.

What role does cost-cutting play in mergers like the one between CenturyLink and Level 3?