Baker Hughes, Halliburton shareholders approve $35 billion merger
Staff writer ▼ | March 27, 2015
Shareholders voted to approve the mergers of Baker Hughes and Halliburton, bringing the proposed deal a step closer to finalization.Article continues below
Halliburton shareholders approved the issuance of shares needed to complete the transaction valued at $35 billion when it was announced, while Baker Hughes shareholders voted to approve the deal.
The cash and stock deal announced in November will create an oilfield service behemoth to take on market leader Schlumberger. About 98 percent of the shares voted at a special meeting in Houston voted for the deal, a figure that represents 75 percent of the company's outstanding shares, the companies said.
The deal, which still needs the approval of anti-trust regulators, is expected to close late in the second half of 2015.
Halliburton previously said it was willing to divest businesses with combined revenue of $7.5 billion to satisfy regulators. ■ What to read next
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