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EU: Opens probe into Halliburton planned purchased of Baker Hughes

 |  January 12, 2016

The European Commission said on Tuesday it had launched an in-depth investigation into Halliburton’s planned purchase of its oilfield services rival Baker Hughes.

Halliburton offered in November to buy rival Baker Hughes for about $35 billion in cash and stock, creating an oilfield services behemoth to take on market leader Schlumberger as customers curb spending on falling oil prices.

Halliburton expressed confidence that the tie up of the No. 2 and No. 3 players in the services industry would clear regulatory hurdles.

However, they two companies said last month that US antitrust officials were not satisfied with proposed concessions.

Full content: The Wall Street Journal

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