Halliburton Co. (NYSE: HAL) said its stockholders approved Halliburton’s proposal to issue some of its common shares as part of the merger agreement with Baker Hughes Inc. (NYSE: BHI), the two companies said March 27.
Baker Hughes also said that its stockholders adopted the merger agreement, approving the companies’ combination. Both companies’ special meetings were held that day.
Almost 99% of the shares at Halliburton’s meeting voted in favor of issuing the shares. At Baker Hughes’ meeting, more than 98% of the shares voted favoring the transaction. This represented about 75% of Baker Hughes’ outstanding shares.
The transaction is scheduled to close in the second half of 2015, subject to regulatory approvals.
Both oilfield service companies are based in Houston and work globally.
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