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US: Halliburton $35 billion oil merger faces antitrust hurdle

 |  July 22, 2015

According to Bloomberg’s David McLaughlin, who cites people familiar with the matter, the deal is facing opposition from Justice Department lawyers. The lawyers reportedly say that a merger between the second- and third-largest oilfield services companies would stifle competition.

Last November, Halliburton announced it would buy its smaller rival for $34.6 billion in cash and stock.

Bloomberg noted that the Justice Department’s antitrust division has assigned John Read to oversee the review. He’s the same lawyer that won the antitrust charge against American Express in February over whether the company could ban merchants from accepting other credit cards.

Full content: Bloomberg

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