Baker Hughes, BJ Services get 2nd request from DOJ

Posted In: Energy

By The Associated Press

Thursday, October 15, 2009

Print
Loading...

Oilfield services company Baker Hughes Inc. said Thursday that federal antitrust regulators are seeking more information on its proposed $5.5 billion cash-and-stock acquisition of rival BJ Services Co.

In a statement, Baker Hughes said both companies intend to comply promptly with the request from the antitrust division of the Department of Justice.

It was the regulator's second request for information, Baker Hughes said. The two oil services companies announced the deal in August.

The combined company will provide customers with a one-stop shop for a variety of oilfield services, and allows Baker Hughes to diversify its product offering and to compete better with rivals Schlumberger Ltd. and Halliburton Co.

Shares of Baker Hughes fell 70 cents to $45.51 in morning trading. Shares of Houston-based BJ Services shares fell 27 cents to $20.52.

JOIN THE DISCUSSION
Rate Article:  Average 0 out of 5
Register or log in to comment on this article!

0 Comments

Add Comment

Text Only 2000 character limit

Page 1 of 1

New To Market

more

Infrared imaging in radiation free scanner for security

Feb 2

Iscon Video Imaging is introducing two new airport passenger scanners with a patented Thermal-Boosted Infrared Detection System that only shows objects and clothing without any harmful radiation.

First commercial 3-D bio-printer makes human tissue and organs

12/10/2009

Invetech, a builder of custom automation for the biomedical, industrial and consumer markets, has delivered the world's first production model 3-D bio-printer to Organovo, developers of the proprietary NovoGen bioprinting technology.

Tools & Technology

more

Software for drug optimization
Software for drug optimization

1 hour ago

Optibrium launched StarDrop 4.3. The intuitive software offers advantages over traditional predictive modeling platforms as it helps users to identify chemistries with a high chance of success and focus expensive in-house resources.

LED light site for LED solutions

2 hours ago

The new LED Light Site from OSRAM Opto Semiconductors is a source of LED information, resources, tools, technology, and LED lighting solutions for the solid state lighting and general illumination spaces.

Advertisement

Advertisement