Halliburton, Baker Hughes agree to extend DOJ review of planned merger

Halliburton Co. and Baker Hughes Inc. reached a timing agreement with the US Department of Justice’s Antitrust Division to extend DOJ’s review of Halliburton’s proposed acquisition of Baker Hughes (OGJ Online, Nov. 17, 2014).

The oil field service companies jointly announced a timing agreement with the federal entity on July 10. It extends the review of the proposed merger to the later of Nov. 25, or 90 days after Halliburton and Baker Hughes certify they have substantially complied with DOJ’s second requests for information. Both expect to do this by midsummer, they said.

The companies also agreed to extend the proposed transaction’s closing date to no later than Dec. 1. Halliburton and Baker Hughes jointly said they also continue to be in discussions with the European Commission and other competition authorities regarding the deal.

Contact Nick Snow at nicks@pennwell.com.

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