GE-Baker Hughes tie-up clears DOJ hurdle
USA
HOUSTON, June 13, 2017 – GE and Baker Hughes have closed a deal with the U.S. Department of Justice, allowing the two companies to move ahead with their proposed merger.
In a statement released late on Tuesday, GE said it would divest its Water & Process Technologies arm once the deal with Baker Hughes is concluded. The latter reported it had scheduled a shareholders vote on the transaction for June 30.
At the end of May, the European Commission signed off on the proposed tie-up.
The news came as GE announced that it was testing drones and other robots designed to inspect industrial facilities ahead of the anticipated launch of a new business targeted at the oil and gas industry, transportation and utilities, Reuters reported on Tuesday.
It also came a day after GE named John Flannery as its incoming Chairman and CEO following the retirement of Jeff Immelt later this year.
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