Baker Hughes and General Electric reached an agreement with the Department of Justice that would allow the combination of Baker Hughes and GE Oil & Gas under U.S. law.

Pursuant to a proposed consent decree filed in District Court in Washington, D.C., GE has agreed that it will divest its GE Water & Process Technologies business after closing the Baker Hughes transaction. GE announced in March that it had agreed to sell GE Water to Suez for $3.4 billion. No other remedies are required by the proposed consent decree.

The companies also recently received clearance from the European Commission to complete the transaction without conditions, and Baker Hughes scheduled its shareholders vote for June 30.

The companies continue to target a mid-year close.