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EU: Regulators set to warn Halliburton on Baker Hughes deal

 |  April 20, 2016

European Union antitrust regulators are set to warn US oil industry services group Halliburton Co that its plan to buy Baker Hughes will hurt competition, two people familiar with the matter said on Wednesday.

The move will add to Halliburton’s woes after the US Justice Department filed a lawsuit this month to stop the deal because the combined company would only compete with Schlumberger NV in 20 business lines in the global well drilling and oil industry construction services industry.

The warning in the form of a so-called statement of objections from the European Commission could come as soon as next week, the people said. Such a move typically means the EU watchdog is poised to block a merger unless companies provide concessions to address its concerns.

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