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Tag Archives: antitrust laws

US to try to block Halliburton from buying rival

WASHINGTON (AP) — The Justice Department is expected to sue this week to stop Halliburton from acquiring Baker Hughes, according to a person familiar with the matter. The person spoke on condition of anonymity Tuesday because the lawsuit had not yet been announced. Halliburton and Baker Hughes help oil and natural companies by doing much of the actual drilling work ...

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U.S. regulators seek more concessions to OK Halliburton-Baker Hughes deal

Various Halliburton equipment being stored at the equipment yard in Alvarado, Texas June 2, 2015. While giants like Halliburton, Baker Hughes and Schlumberger are weathering the slump by cutting tens of thousands of jobs, small- and medium-sized firms that make up at least half of the nearly $100 billion a year U.S. oil services industry that provides fracking sand and specialized chemicals for fracking have been hit far harder than their large, cash-rich rivals by the downturn, experts say. Picture taken on June 2, 2015. REUTERS/Cooper Neill - RTX1GZSL

Halliburton Co <HAL.N> and Baker Hughes Inc <BHI.N> said U.S. antitrust officials were not satisfied with the concessions they offered to win approval for their proposed merger, and that officials said they would assess further proposals. The two oilfield service providers said it was unlikely they would be able to settle with the U.S. Department of Justice by Tuesday, the ...

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