GE puts NBC cash to work buying Lufkin for $3.3 billion

General Electric is tapping proceeds from the sale of NBC to fund its $3.3 billion purchase of Lufkin Industries as Chief Executive Officer Jeffrey Immelt takes advantage of an oil-drilling boom.

http://www.newstimes.com/news/article/GE-puts-NBC-cash-to-work-buying-Lufkin-for-3-3-4418601.php