Halliburton Seen Facing Antitrust Issues on Baker Hughes Deal
Posted by Eric Haun
Wednesday, July 22, 2015
Oilfield services provider Halliburton Co's acquisition of smaller rival Baker Hughes Inc is facing resistance from U.S. regulators who are concerned that the deal could hurt competition, Bloomberg reported.
Justice Department lawyers reviewing the proposed $35 billion deal are worried that the oilfield services industry would become too concentrated post the merger, Bloomberg reported, citing a person familiar with the matter.
"We are fully committed to our target of closing the pending Baker Hughes acquisition in late 2015," Halliburton spokeswoman Susie McMichael said in an email to Reuters.
Baker Hughes was not immediately available to comment.
(Reporting by Sneha Banerjee in Bengaluru; Editing by Maju Samuel)