By David McLaughlin and David Wethe, Bloomberg News
General Electric Co. and Baker Hughes Inc. have cleared a second major antitrust hurdle in their effort to create the world’s second-biggest oilfield services provider.
GE won approval on Monday from the U.S. Justice Department to combine its oil and gas business with Baker Hughes. The clearance follows by two weeks a similar decision by European regulators, and comes just hours after GE said that Jeffrey Immelt, the deal’s architect, will step down as CEO.
Immelt will serve as chairman of the new Baker Hughes when the deal closes in mid-2017.
As ...
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