U.S. regulators seek more concessions to OK Halliburton-Baker Hughes deal

Published 12/15/2015, 03:43 PM
Updated 12/15/2015, 03:50 PM
© Reuters. Various Halliburton equipment being stored at the equipment yard in Alvarado Texas
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(Reuters) - Halliburton Co (N:HAL) and Baker Hughes Inc (N:BHI) said U.S. antitrust officials were not satisfied with the concessions they offered to win approval for their proposed merger, and that officials said they would assess further proposals.

The two oilfield service providers said it was unlikely they would be able to settle with the U.S. Department of Justice by Tuesday, the earliest closing date for the deal.

The two companies also extended the deadline for closing the proposed merger to April 30, 2016.

© Reuters. Various Halliburton equipment being stored at the equipment yard in Alvarado Texas

The earliest closing date for the deal, which would create the second-largest oilfield services company after Schlumberger Ltd (N:SLB), was extended to Dec. 15 after U.S. regulators requested more information from the companies.

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