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SLICK MERGER FOR OIL FIRMS

US OIL SERVICES company Baker Hughes announced yesterday it was buying rival BJ Services in a deal worth $5.5bn (&pound;3.3bn) after the two companies&rsquo; boards approved the deal.<br /><br />Baker Hughes chairman Chad Deaton (pictured) yesterday said the merger would be gradual, but will result in $75m in savings next year.