Baker Hughes, BJ Services to reconvene meetings at end of month about sale

Baker Hughes, BJ Services to reconvene meetings

HOUSTON — Shareholders of oil services company Baker Hughes Inc. and BJ Services Co. voted Friday to adjourn their meetings until the end of the month, as both sides continue to see antitrust approval for the sale of BJ Services to Baker Hughes.

The deal — valued at $5.5 billion — has received approval from foreign jurisdictions. But it has not yet received the required approval from the antitrust division of the U.S. Department of Justice.

The companies said in a news release they are working toward getting that approval.

Both companies will reconvene their meetings on March 31 in Houston and proxies will continue to be accepted until then.

The companies expect the deal to close some time after that meeting.

The two oil services companies announced the deal in August.

Shares of Baker Services fell $1.91, or 3.9 percent, to $47.46 in afternoon trading Friday. Shares of BJ Services fell 77 cents, or 3.44 percent to $21.59.