Halliburton and Baker Hughes to scrap merger

By Kasia Patel
Published: Saturday, 21 May 2016

Halliburton to pay $3.5bn break-up fee; working with antitrust authorities since 2014; rig count down affecting associated oilfield minerals

Leading oilfield services firms Baker Hughes Inc. and Halliburton Co. have announced the immediate termination of the merger agreement entered into by the companies in November 2014.

In a joint statement released in May, Halliburton and Baker Hughes reiterated their belief in the merger’s "compelling benefits to shareholders, customers and...

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