DOJ requires divestiture to approve GE-Baker Hughes megadeal

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Boston-based General Electric Co. (NYSE: GE) and Houston-based Baker Hughes Inc. (NYSE: BHI) reached a deal with the U.S. Department of Justice regarding their megadeal. The DOJ agreed to approve the combination of Baker Hughes and GE Oil & Gas as long as the companies divest GE’s Water & Process Technologies business. With the divestiture, the DOJ claims the merger “would substantially lessen competition for refinery chemicals and services in the United States, leading to higher prices and…