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US: GE, Baker Hughes asked for more information

 |  March 7, 2017

The US Justice Department is seeking additional information from General Electric and Baker Hughes over the pending merger to create an oil and gas behemoth.

The department’s actions extend the waiting period related to the regulatory review until 30 days after the companies comply, GE and Baker Hughes said Monday in a statement. The deal, subject to a shareholder vote and other approvals, is still expected to close around the middle of 2017. The information requested wasn’t specified.

“GE and Baker Hughes have been working cooperatively with the DOJ,” the companies said. The requests “are a normal part of the DOJ review process.”

GE announced a deal in October to combine its oil and gas business with Baker Hughes, forming one of the industry’s largest oilfield services and equipment companies.

Full Content: Up Stream Online

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