WASHINGTON, April 27 (Reuters) - Oilfield services company Baker Hughes Inc got the go-ahead from antitrust regulators to finalize its deal to buy smaller rival BJ Services Co on condition that it make some divestitures, the Justice Department said on Tuesday.
The deal can be completed contingent on the sale of two stimulation vessels, which prevent sand from impeding the flow of oil or gas, the Justice Department said.
The companies must also sell a Louisiana dock facility and some assets related to the stimulation vessels.
'The transaction as originally proposed would combine two of only four companies that provide specialized pumping services, called stimulation services, necessary for the production of oil and gas from wells in the U.S. Gulf of Mexico,' the department said in a statement.
The two companies' shareholders have already approved the deal.
(Reporting by Diane Bartz; Editing by Bernard Orr) Keywords: BJSERVICES BAKERHUGHES/ANTITRUST (Diane.Bartz@ThomsonReuters.com; +1 202 898 8313) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
The deal can be completed contingent on the sale of two stimulation vessels, which prevent sand from impeding the flow of oil or gas, the Justice Department said.
The companies must also sell a Louisiana dock facility and some assets related to the stimulation vessels.
'The transaction as originally proposed would combine two of only four companies that provide specialized pumping services, called stimulation services, necessary for the production of oil and gas from wells in the U.S. Gulf of Mexico,' the department said in a statement.
The two companies' shareholders have already approved the deal.
(Reporting by Diane Bartz; Editing by Bernard Orr) Keywords: BJSERVICES BAKERHUGHES/ANTITRUST (Diane.Bartz@ThomsonReuters.com; +1 202 898 8313) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.