Halliburton And Baker Hughes Stockholders Approve Merger Agreement

(RTTNews) - Halliburton Co. (HAL) announced that its stockholders approved Halliburton's proposal to issue shares of Halliburton common stock as contemplated by its merger agreement with Baker Hughes Inc. (BHI).

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 the second half of 2015, and remains subject to regulatory approvals, as well as other customary closing conditions.

In mid-November, Halliburton said it agreed to Baker Hughes in a cash and stock deal valued at $78.62 per Baker Hughes share, or a total of $34.6 billion.