Halliburton and Baker Hughes stockholders approve merger

On March 27 in two separate special meetings, Halliburton Co.’s (NYSE: HAL) stockholders have approved Halliburton’s proposal to issue shares of Halliburton common stock as contemplated by its merger agreement with Baker Hughes Inc. (NYSE: BHI) – and Baker Hughes stockholders adopted the merger agreement, as well, thereby approving the proposed combination of the two companies.  

Nearly 99% of the shares voted at Halliburton’s special meeting voted in favor of the proposal to issue Halliburton shares. Separately, more than 98% of the shares voted at the Baker Hughes special meeting voted in favor of the transaction, representing more than 75% of all outstanding shares of Baker Hughes.

The close of the transaction is expected to occur late in the second half of 2015, and it remains subject to regulatory approvals, along with other customary closing conditions.

 

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