Halliburton, Baker Hughes Extend Time Period to Close Merger

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Halliburton Co. and Baker Hughes Inc. announced that they would extend the time period to close their pending merger to April 30 as they work to satisfy Justice Department concerns.

Halliburton announced an agreement to buy Baker Hughes in November 2014 to better compete against industry leader Schlumberger Ltd. by achieving scale and building a better technology portfolio in a market where the ability to innovate is increasingly critical for success.

At that time, Halliburton said it planned to divest assets that generate as much as $7.5 billion in annual revenue to win antitrust approval. 

 

 

 

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