Baker Hughes Inc. (BHI) and BJ Services Co. (BJS) announced the receipt of a request from the Antitrust Division of the Department of Justice for additional information, or commonly known as a second request, with respect to Baker Hughes' proposed merger with BJ Services Company. Both companies intend to comply with the request promptly.
In August, Baker Hughes and BJ Services announced a definitive merger agreement by which Baker Hughes would acquire BJ Services. The deal is worth $5.5 billion based on closing stock prices of BJ Services on August 28.
Under the agreement, BJ Services stockholders will receive 0.40035 shares of Baker Hughes and cash of $2.69 in exchange for each share of BJ Services common stock. The agreement represents a premium of 16.3% to BJ Services stockholders over the company's closing stock price on August 28. Upon closing, and reflecting the issuance of new Baker Hughes shares, BJ Services stockholders collectively will own about 27.5% of Baker Hughes' outstanding shares.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.