Baker Hughes and GE merger approved by Justice Department

HOUSTON, Texas (KTRK) -- The Department of Justice has approved a merger between Baker Hughes and General Electric Co., which would create one of the largest oilfield service companies in the U.S. with $32 billion of combined revenue.

The merger is contingent on General Electric divesting its Water and Process Technologies business.

Headquartered in Houston, Baker Hughes generated $15.7 billion in revenues in 2015.

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