Halliburton To Buy Baker Hughes In $35 Billion Deal

Halliburton Co. has agreed to purchase rival oil-services provider Baker Hughes Inc. in a cash-and-stock deal valued at $34.6 billion, the companies said on Monday. Shares of Baker Hughes jumped 17% to $70 in premarket trading following the announcement. The transaction is valued at $78.62 for each share of Baker Hughes, and is expected to close in the second half of 2015. Shareholders in Baker Hughes should receive 1.12 Halliburton shares plus $19 in cash for each share they own.