Houston-based energy services company Baker Hughes has agreed to acquire its smaller rival BJ Services for $5.5 billion, it has been announced. The deal, which could be concluded by as early as the fourth quarter of this year, will boost Baker HughesÔÇÖ position among the industryÔÇÖs other big players such as Schlumberger and Halliburton. Acquiring BJ Services, also based in Houston, will enable Baker Hughes to offer a wider range of servicesÔÇöa key capability that energy companies such as Exxon Mobil and Chevron are increasingly seeking when hiring contractors. The de