Halliburton-Baker Deal First Ripple In Oil Field M&A Wave
Law360, New York (November 17, 2014, 7:41 PM EST) -- The $34.6 billion merger between oil field service rivals Halliburton Co. and Baker Hughes Inc. announced Monday could herald a consolidation wave within the sector as companies look to protect themselves from dwindling demand for their services because of plunging oil prices, experts say.
Halliburton said it would pay $78.62 per share of Baker Hughes stock, giving the deal an enterprise value of $38 billion and combining two companies that together racked up $51.8 billion in revenues in 2013, have more than 136,000 employees and operate in more than 80 countries around the world. It’s a merger of the world’s second-...
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