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US: Halliburton and Baker Hughes extend antitrust review period

 |  July 12, 2015

Halliburton and Baker Hughes said Friday that they have extended the timeline for completing the US Department of Justice’s antitrust review of their plans to combine.

The companies announced last November that Halliburton would buy rival oilfield services company Baker Hughes in a cash-and-stock deal then worth $34.6 billion. But the companies have been waiting for regulatory approval to complete the transaction.

Halliburton and Baker Hughes said they now have agreed to complete the review process by Nov. 25 or 90 days after both have certified substantial compliance with the DOJ’s second request. Both companies expect to complete this step by mid-summer.

The companies now expect the deal to close no later than December 1.

Full content: Reuters

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