GE nears about $30 billion deal with Baker Hughes - WSJ

(Reuters) - General Electric Co is nearing an about $30 billion (25 billion pound) deal to merge its oil and gas business with Baker Hughes Inc , the Wall Street Journal reported on Sunday. The combined entity will be controlled by GE and would have publicly traded shares, the Journal reported, citing people familiar with the matter. Baker Hughes' planned merger with bigger rival Halliburton Co fell through in May due to opposition from regulators.