Justice Dept Clears Baker Hughes-BJ Services Merger, With Conditions

The U.S. Justice Department said Tuesday that it has granted antitrust clearance to the proposed merger of oilfield-service companies Baker Hughes Inc. (BHI) and BJ Services Co. (BJS), but it is requiring the companies to divest assets as a condition of government approval.

The companies have agreed to sell two vessels that provide specialized pumping services that are necessary for oil and gas production in the Gulf of Mexico, the department said.

The department said the companies also will divest a dock facility in Port Fourchon, La., and other assets.

The department's antitrust regulators said the deal as originally proposed would have led to higher prices and a reduction in service quality.

The merger was valued at $5.5 billion when it was announced in August last year.

-By Brent Kendall, Dow Jones Newswires; 202-862-9222; brent.kendall@dowjones.com

BJ Services (NYSE:BJS)
過去株価チャート
から 7 2024 まで 8 2024