@GDBlackmon tweets related to: News, Lufkin, Immelt, Energy, Bloomberg

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General Electric Co. (GE) is tapping proceeds from the sale of NBC to fund its $3.3 billion purchase of Lufkin Industries Inc. (LUFK) as Chief Executive Officer Jeffrey Immelt takes advantage of an oil-drilling boom. Oil and gas has become GE's fastest-growing segment with sales since 2009 up 57 percent to $15.2 billion amid a shale-oil boom poised to make the U.S.
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