U.S. DoJ Approves Baker Hughes – GE Merger

Baker Hughes and GE have reached an agreement with the Department of Justice that would allow the parties to complete their proposed transaction under U.S. law.

Pursuant to a proposed consent decree filed in District Court in Washington, D.C., GE has agreed that it will divest its GE Water & Process Technologies business (GE Water) after closing the Baker Hughes transaction.

GE announced in March that it had agreed to sell GE Water to Suez for $3.4 billion. No other remedies are required by today’s proposed consent decree.

The companies also recently received clearance from the European Commission to complete the transaction without conditions, and Baker Hughes scheduled its shareholders vote for June 30.

The two companies have already announced the executive team that will lead Baker Hughes, a GE company upon closing of their proposed transaction.

Baker Hughes and GE said they expect to close the transaction in mid-2017.

Share this article

Follow Subsea World News

Events>

<< Oct 2018 >>
MTWTFSS
1 2 3 4 5 6 7
8 9 10 11 12 13 14
15 16 17 18 19 20 21
22 23 24 25 26 27 28
29 30 31 1 2 3 4

Seatrade Maritime Middle East

The region’s largest gathering of shipping and maritime industry decision makers…

read more >

1ST NORWAY PUMPS & PIPES CONFERENCE

The primary goal is to bring together professionals from Energy and Medicine to transfer knowledge and share challenges…

read more >

Flow Measurement

The event will deliver technical presentations, showcase new…

read more >

Offshore Energy Exhibition & Conference 2018

Offshore Energy Exhibition & Conference (OEEC) is Europe’s leading offshore energy event. It is unique in bringing together the oil & gas…

read more >