Baker Hughes, Halliburton Extend Deadline For Merger
Baker Hughes Inc. and Halliburton Co. said late Tuesday they will keep working with the Justice Department to clear up antitrust concerns. Given the continued antitrust review, the oilfield services companies extended their deadline out to April 30 to close the deal. "The DOJ has informed the companies that it does not believe that the remedies offered to date are sufficient to address the DOJ's concerns, but acknowledged that they would assess further proposals and look forward to continued cooperation from the parties in their continuing investigation," the companies said in a statement. Back in July, the companies had expected the $35 billion deal to close by Dec. 1 after an extension of the antitrust review period. Baker Hughes shares declined 0.3% after hours, while Halliburton shares were up less than 0.1%.
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