Texas-based Lufkin Industries is present in 40 countries, including Romania, where it owns a production facility near Ploiesti.
Considering that the two companies operate in different sectors in Romania, the takeover does not threaten market competition, the antitrust authority said.
General Electric operates in the energy, technology infrastructure, financial and industrial services sectors.
General Electric said in April it would acquire Lufkin Industries for $3.3 billion.
“Advanced technologies, combined with new drilling practices, are revolutionizing the oil and gas industry. Lufkin’s world-class people, equipment and services fit perfectly in our portfolio and will enable us to offer a wide range of artificial lift solutions to our customers,” Daniel Heintzelman, GE Oil & Gas president and CEO, said in a press release back then.
Lufkin shareholders will receive $88.50 for each of their shares, the press release read.
Lufkin employs 4,500 people worldwide. Its Romanian plant was opened in 2012.
The transaction is expected to close in the second half of 2013 once it gets the nod from market regulators.
Lufkin registered revenues of $1.28 billion last year, up 37% from $932 million in 2011. Its net profit rose 24% to $81.8 million in 2012, from $65.9 million.