EU stops Halliburton, Baker Hughes deal probe again, wants more info

BRUSSELS – Halliburton’s plan to acquire Baker Hughes and create the world’s biggest U.S. oilfield services provider faces more delay after European Union antitrust regulators halted their investigation into the $35 billion (£24.2 billion) deal for the second time.

The European Commission said the companies have yet to provide an important piece of information.

“Once the missing information is supplied by the parties, the clock is re-started and the deadline for the Commission’s decision is then adjusted accordingly,” Commission spokesman Ricardo Cardoso said in an email.

The EU competition authority is concerned that the deal may reduce competition and innovation in more than 30 product markets, both onshore and offshore. It had suspended the deal review for about two weeks in February for a similar reason.

Halliburton, which is willing to divest businesses with combined 2013 revenue of $5.2 billion to sooth regulators, has yet to make a formal offer of concessions. The deal comes amid weak oil prices and reduced drilling activity.

(Reporting by Foo Yun Chee, editing by Louise Heavens)

Share this article

Follow Offshore Energy Today

Events>

<< Jun 2019 >>
MTWTFSS
27 28 29 30 31 1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 30

Shanghai Int Petrochemical and Offshore Oil & Gas and Chemical Industry Technology and Equipment Exhibition 2019

cippe Shanghai has attracts both domestic and overseas buyer groups, including Shell, Exxon Mobil, Total…

read more >

OIL & GAS PHILIPPINES 2019

Oil & Gas Philippines event display products like Oil & gas, fire protection systems and materials…

read more >

Nigeria Oil & Gas Conference & Exhibition 2019

The annual meeting once again proved to be a great success, gathering over 700 industry professionals…

read more >

08th OIL & GAS AFRICA 2019 CONFERENCE

OIL & GAS AFRICA is one of the most prime regional & international Oil and Gas conferences in East Africa…

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply