News Update: Baker Hughes, BJ Services Put Merger on Hold Pending U.S. Regulatory Approval

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Uploaded by on Mar 19, 2010

Dow Jones reported Friday that Baker Hughes (NYSE:BHI) and BJ Services (NSYE:BJS) adjourned their special stockholders meetings on their proposed merger until the end of the month as the companies await U.S. regulatory approval.

The oilfield-services companies have all the required foreign approvals for their combination but haven't received antitrust clearance from the U.S. Justice Department, which has raised issues regarding the overlap between some of their Gulf of Mexico businesses.

The companies don't expect any resolution to be material to the business or financial performance of the combined company following the merger.

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