Halliburton (NYSE: HAL) has been granted 20 extra business days to prepare documents before the European Commission completes its Phase 2 review of Halliburton’s proposed merger with Baker Hughes (NYSE: BHI), according to various media outlets. The European Commission initiated Phase 2 of its review in January.
The extension will give Halliburton until June 23 to prepare a list of assets that it is willing to divest in order to calm competition concerns over the company’s pending combination with Baker Hughes.
Closing of the Halliburton and Baker Hughes transaction has already been delayed until April, as the deal is still under scrutiny in the US, the EU, Australia, and Brazil. Halliburton has recently presented a list of assets that it was prepared to divest to the US Department of Justice.