Halliburton, Baker Hughes issue joint proxy statement/prospectus

Offshore staff

HOUSTON – Halliburton and Baker Hughes have issued a joint proxy statement/prospectus relating to the merger of Baker Hughes into a wholly owned subsidiary of Halliburton.

According to the document, when the merger is completed, Baker Hughes stockholders will receive 1.12 shares of Halliburton common stock and $19.00 in cash for each share of Baker Hughes common stock held. Based on market conditions at the time of the proxy statement/prospectus, Halliburton will issue approximately 490 million shares of Halliburton common stock and will pay approximately $8.3 billion in cash to Baker Hughes stockholders. Those amounts will be adjusted depending on the actual number of shares of Baker Hughes common stock and equity-based awards outstanding at the effective time of the merger.

At a special meeting on March 27, 2015, Halliburton stockholders will be asked to vote on a proposal to approve the issuance of shares of Halliburton common stock as contemplated by the merger.

At the special meeting of the stockholders of Baker Hughes on March 27, 2015, Baker Hughes stockholders will be asked to vote on a proposal to adopt the merger agreement.

02/17/2015

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