U.S. DoJ Seeks Additional Information On GE-Baker Hughes Deal

(RTTNews) - General Electric Co. (GE) and Baker Hughes Inc. (BHI) announced that they have each received a request for additional information from the United States Department of Justice in connection with the pending combination of GE's oil and gas business with Baker Hughes. The second requests were issued under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended.

GE and Baker Hughes noted that they have been working cooperatively with the DOJ as it conducts its review of the transaction. The effect of the second requests is to extend the waiting period imposed by the HSR Act until 30 days after GE and Baker Hughes have substantially complied with the requests, unless that period is extended voluntarily by the parties or terminated sooner by the DOJ.

The transaction remains subject to approval by Baker Hughes' shareholders and other approvals, as well as customary closing conditions. GE and Baker Hughes expect the transaction to close in mid-2017.