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US: Halliburton pushing to keep Baker-Hughes deal alive

By  |  January 26, 2016

Faced with antitrust concerns over its proposed $35 billion acquisition of Baker Hughes, Halliburton said Monday it had presented an expanded list of possible asset divestitures to the U.S. Department of Justice.

The merger would combine the second and third largest suppliers of oilfield services. The plunge in oil prices has complicated the firm’s efforts to find buyers for any assets they may need to sell to comply with antitrust laws.

Halliburton and Baker Hughes agreed last year to divest as much as $7.5 billion worth of business if required by regulators. Halliburton declined to provide details of the new plan in an analysts’ call Monday, according to Bloomberg, but James West, an analyst at Evercore ISI, said the threshold for total assets sold could climb to as much as $10 billion in 2013 revenue.

Full content: Bloomberg

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