HOUSTON – General Electric on Monday received U.S. antitrust approval to combine its oil and gas operations with Baker Hughes, potentially creating an oil services powerhouse with more than $32 billion in revenue.
The approval is conditioned on GE selling its Water and Process Technologies business.
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"Today’s milestone represents significant progress toward creating an oil and gas productivity leader positioned to deliver value for customers, employees and shareholders," Baker Hughes said in a statement.
KPRC will provide updates on this story when they become available.
