Resumen de Halliburton-Baker Hughes merger blocked by DOJ lawsuit
[Bill Baer] noted that over 90% of Halliburton's revenues come from products also sold by Baker Hughes, while Baker Hughes competes with Halliburton for 90% of its revenue. And, together with the largest US oilfield services provider Schlumberger Ltd., the two companies would account forover 90% of supply in some US sectors should a merger go ahead.
While no one at Baker Hughes or Halliburton was immediately available to speak to IM, the companies said in a joint statement that they plan to "vigorously contest the DOJ's effort to block their pending merger".
"The proposed merger of Halliburton and Baker Hughes is pro-competitive and will allow the companies' customers to benefit from a more flexible, innovative and efficient oilfield services company. The transaction will provide customers with access to high quality and more efficient products and services, and an opportunity to reduce their cost per barrel of oil equivalent," the statement said.
