Halliburton, Baker Hughes Prepared For Antitrust Scrutiny
Law360, New York (November 21, 2014, 12:12 PM EST) -- On Nov. 17, 2014, Halliburton Co. announced plans to acquire Baker Hughes Inc. for $34.6 billion. Halliburton and Baker Hughes are two of the world's largest oil field services companies, providing drilling, formation evaluation, reservoir consulting and related services to oil and gas producers. Halliburton and Baker Hughes are considered two of the big three global oil field services companies in the industry, second and third behind Schlumberger Ltd., reportedly the leading oil field services company in the world. Reducing suppliers from three to two in any market will inevitably raise red flags with the U.S. Department of Justice (the U.S. antitrust agency expected to review the transaction), who will undoubtedly conduct a thorough antitrust investigation....
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