Baker Hughes, BJ Services merger passes DOJ, expected to close this week

Source: Baker Hughes

Baker Hughes Incorporated (BHI) and BJ Services Company (BJS) have reached a final agreement with the Antitrust Division of the U.S. Department of Justice in connection with the governmental approval of the pending merger between the companies

As previously disclosed, Baker Hughes will be required after the closing to divest two stimulation vessels (the HR Hughes and Blue Ray) and certain other assets used to perform sand control services in the U.S. Gulf of Mexico. The parties do not expect that the divestiture will be material to the business or financial performance of the combined company following the merger. This agreement with the DOJ includes a Proposed Final Judgment and a Hold Separate Stipulation and Order, which have been filed with the Federal District Court in Washington, D.C. along with other related documents. 

Having already obtained stockholder approval, Baker Hughes and BJ Services expect to close before the end of this week following the expected acknowledgement of the Proposed Final Judgment and entry of the Hold Separate Order by the Federal District Court, subject to the other closing conditions.



Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs