Shareholders approve $35B Halliburton-Baker Hughes deal

|About: Baker Hughes, a GE company (BHGE)|By:, SA News Editor

More than 98% of voting shareholders from both companies approve the $34.6B megadeal for Halliburton (HAL -0.4%) to acquire Baker Hughes (BHI -0.2%).

The combination of the two oilfield services giants is not expected to close until H2 of this year after going through the regulatory process and the sales of some business units and assets by both companies.

Both companies have been downsizing sharply, citing the oil crash rather than the merger; HAL is cutting up to 6.5K jobs from its 80K global headcount while BHI is shedding 7K of its nearly 60K jobs.

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