DOJ clears Baker Hughes/BJ Services transaction with remedies | Practical Law
On 27 April 2010, the US Department of Justice (DOJ) announced that it will require Baker Hughes Inc. and BJ Services Company to divest two specially equipped vessels, as well as other assets, as a condition to approving their proposed merger. Baker Hughes and BJ Services are global companies that provide pumping services (vessel stimulation services) to oil and gas companies in the U.S. Gulf of Mexico. The announcement came on the same day that the DOJ challenged the proposed acquisition in federal court. The DOJ also filed a proposed settlement, that, if approved by the court, would resolve its anti-competitive concerns.