Baker Hughes (NYSE: BHI) has received notice that the Antitrust Division of the US Department of Justice (DOJ) has approved Superior Energy Services (NYSE:SPN) as the purchaser of the two stimulation vessels (the HR Hughes and the Blue Ray) and certain other assets used to perform sand control services in the US Gulf of Mexico.
Subsidiaries of the two companies signed an agreement for the packaged asset sale in July.
These assets are being divested in connection with the acquisition of BJ Services Co. In August 2009, the two companies agreed to merge in a transaction valued at $5.5 billion for BJ Services.
Upon closing, the Hold Separate Stipulation and Order requiring the BJ Services and Baker Hughes business in the United States to be operated separately will terminate and the company will be free to fully integrate BJ Services into Baker Hughes globally.
Source: Baker Hughes