DOJ Scrutinizes $5.5B Baker Hughes, BJ Merger

Law360, New York (March 15, 2010, 3:50 PM EDT) -- While oil and gas services heavyweight Baker Hughes Inc. is eager to close its $5.5 billion acquisition of BJ Services Co., the deal has yet to receive antitrust approval from the U.S. Department of Justice, raising concerns about potential hang-ups over the companies’ overlapping businesses.

Baker Hughes announced Monday that all foreign jurisdictions have assented to the merger but that antitrust regulators at the Justice Department have not yet given their blessing and have given no indication that they will do so before the March 19,...
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