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Tuesday, March 31, 2015
Halliburton reported that its stockholders approved its proposal to issue shares of the company’s common stock as contemplated by its merger agreement with Baker Hughes. In addition, Baker Hughes announced that its stockholders adopted the merger agreement and thereby approved the proposed combination of the two companies.
Nearly 99% of the shares voted at Halliburton’s special meeting voted in favor of the proposal to issue Halliburton shares. Separately, more than 98% of the shares voted at Baker Hughes’ special meeting voted in favor of the transaction, representing more than 75% of all outstanding shares of Baker Hughes.
The close of the transaction is expected to occur late in H2 2015, and remains subject to regulatory approvals, as well as other customary closing conditions.
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