A PYMNTS Company

US: Halliburton throws ‘Hail Mary’ to save $35B deal with Baker Hughes

 |  April 4, 2016

Halliburton executives are making a last-ditch bid to save the company’s proposed $35 billion tie-up with rival Baker Hughes, The Post has learned.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    While the Department of Justice has not made a final decision on whether to file a lawsuit seeking to block the deal, antitrust officials are leaning against the merger of the No. 2 and No. 3 oilfield services firms, according to two sources.

    The feds could move as soon as this week to halt the deal, with an announcement coming during the American Bar Association’s annual antitrust conference in Washington, sources said.

    Should Halliburton fail in its latest attempt to persuade regulators, it is on the hook to pay a $3.5 billion breakup fee to Baker Hughes. That’s equal to 10 percent of Halliburton’s $30 billion market cap.

    Full content: Fuel Fix

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.