DOJ OKs Baker Hughes, BJ Merger With Divestitures

Law360, New York (April 28, 2010, 1:07 PM EDT) -- Baker Hughes Inc. has moved a step closer to finalizing its $6.8 billion takeover of BJ Services Co., with the U.S. Department of Justice finalizing the terms of a proposed settlement that will involve the divestiture of some of the oil field services provider's assets to alleviate antitrust concerns.

The DOJ announced Tuesday that it had launched a civil antitrust lawsuit in the U.S. District Court for the District of Columbia to block the proposed transaction, while simultaneously filing a proposed settlement that, if approved by...
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