Skip to main content

Baker Hughes and GE reach agreement with DOJ

Published by , Editorial Assistant
Hydrocarbon Engineering,


Baker Hughes Incorporated (BHI) and General Electric Company (GE) have announced that they have reached an agreement with the Department of Justice (DOJ) that would allow the parties to complete their proposed transaction under US law. This represents significant progress toward creating an oil and gas productivity leader positioned to deliver value for customers, employees and shareholders.

Pursuant to a proposed consent decree filed today 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 US$3.4 billion. No other remedies are required by the 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 30 June. The companies have both stated they look forward to completing the transaction and continue to target a mid-year close.

Read the article online at: https://www.hydrocarbonengineering.com/refining/13062017/baker-hughes-and-ge-reach-agreement-with-doj/

You might also like

The Hydrocarbon Engineering Podcast - Education and training for every phase of the insulating system design process

In this episode of the Hydrocarbon Engineering Podcast, Brandon Stambaugh, Owens Corning Director for Technical Services, joins us to discuss engineers’ demand for education and training to support the critical phases that affect the performance and longevity of insulating systems.

Tune in to the Hydrocarbon Engineering Podcast on your favourite podcast app today.

Apple Podcasts  Spotify Podcasts  YouTube

 
 

Embed article link: (copy the HTML code below):


 

This article has been tagged under the following:

Downstream news Downstream contract news North America downstream news