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GE-Baker Hughes merger cleared by Australian regulators

Published 06/13/2017, 08:59 AM
© Reuters.  GE-Baker Hughes merger cleared by Australian regulators
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  • The Australian Competition and Consumer Commission says it will not oppose GE's proposed acquisition of Baker Hughes (NYSE:BHI).
  • The Australian regulator says the merger remedy obtained yesterday by the U.S. Justice Department requiring GE to sell its GE Water business to Suez Environnement (PA:SEVI) brings certainty that the sale will occur, removing potential competition concerns in Australia.
  • In Australia, GE (through GE Water) and Baker Hughes are key suppliers of downstream chemicals, particularly refinery process chemicals.
  • Now read: Was Immelt A Better CEO For GE Than Welch?


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