trending Market Intelligence /marketintelligence/en/news-insights/trending/ajcmgE34__vZyYLlbvei2Q2 content esgSubNav
In This List

GE to sell water business for $3.4B under DOJ decree for Baker Hughes merger

Blog

Japan M&A By the Numbers: Q4 2023

Video

See the Big Picture: Energy Transition in 2024

Podcast

IR in Focus | Episode 10: Capital Markets Outlook

Blog

Infographic: The Big Picture 2024 – Energy Transition Outlook


GE to sell water business for $3.4B under DOJ decree for Baker Hughes merger

Baker Hughes Inc. and General Electric Co. struck an agreement with the U.S. Department of Justice that was required to complete the two companies' pending merger under U.S. law, under which GE would sell its water business for $3.4 billion.

Under a proposed consent decree filed in the District Court in Washington D.C., GE would divest its GE Water & Process Technologies b.v.b.a. to SUEZ after the merger closes. With the agreement, the merger is on track for completion by midyear, according to a June 12 news release.

With clearance already obtained from the European Commission, Baker Hughes' shareholders are scheduled to vote on the merger on June 30.