Baker Hughes, GE merger receives approval by Justice Department No description found
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.
"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.
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