A PYMNTS Company

EU: Halliburton refiles bid for approval of $35 billion Baker Hughes buy

By  |  November 29, 2015

Halliburton sought European Union approval a second time for its planned takeover of Baker Hughes, four months after regulators rejected an earlier filing about the bid to combine the world’s No. 2 and No. 3 providers of oil services.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    The European Commission set an initial deadline of Jan. 12 to rule on the transaction that’s been dogged with regulatory delays since it was agreed on last year. The EU could still opt to open an in-depth probe lasting about four months if any remedies fail to allay competition concerns.

    Halliburton’s latest request follows the EU’s July 31 rejection of a filing deemed to lack key details about the deal. Halliburton has already pushed back the timeline for closing the merger amid scrutiny from regulators in the U.S. and Australia. An analyst at Jefferies Group LLC this month cut the probability of Halliburton completing the takeover to 67 percent from 85 percent due to antitrust concerns.

    Full content: Seeking Alpha

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.