Helping Clients With Their Energy and Environmental Needs

Read

Halliburton to Buy Baker Hughes for Nearly $35 Billion

By Ilya Batikov

From Reuters:

Halliburton Co said on Monday it will buy Baker Hughes Inc for about $35 billion in cash and stock, creating an oilfield services behemoth to take on market leader Schlumberger NV as customers curb spending on falling oil prices.

Halliburton expressed confidence that the tie up of the No. 2 and No. 3 players in the services industry would clear regulatory hurdles, saying it was prepared to shed assets to mollify antitrust concerns that could arise in Asia, Europe and the Americas.

The deal, the second biggest in the U.S. energy sector this year, could create a company with more revenue than Schlumberger.

Tags: and, Oil, Baker Hughes, Halliburton, Gas, Baker, Hughes, Services, Oil and Gas Services, Oil and Gas, Energy

Helping clients with their energy and environmental needs

You can expect to find news and breaking legal developments involving the crude oil and natural gas industries, alternative and renewable energy resources, and the latest environmental issues.