Halliburton to create global oilfield services champion through Baker Hughes purchase

By Kasia Patel
Published: Monday, 17 November 2014

Halliburton's purchase of Baker Hughes will create one large Houston-based global oilfield services provider which is expected to yield annual cost synergies of almost $2bn. Better solutions to the oil and gas industry could increase activity in the sector, which, in turn could increase demand for oilfield minerals such as frac sand, barite (barytes) and bentonite.

Halliburton will buy Baker Hughes Inc. for $34.6bn to create a combined Houston-based global oilfield services provider.

Both companies, which are leading producers and providers of oilfield minerals including bentonite and barite (barytes), today entered into a definitive agreement under which Halliburton will acquire all the outstanding shares of...

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