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Tuff-Stuff

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Tuff-Stuff

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Sunday, 05/01/2016 6:37:43 PM

Sunday, May 01, 2016 6:37:43 PM

Post# of 648882
Halliburton (NYSE:HAL) and Baker Hughes (NYSE:BHI) will officially terminate their merger agreement on Monday after facing opposition from U.S. and European antitrust regulators, sources say.

The deal would have combined the world's No. 2 and No. 3 oil services companies

The contract governing Halliburton's acquisition of Baker Hughes, which was valued at $35B when first announced in Nov. 2014, expired on Saturday without an agreement by the companies to extend it.

Baker Hughes stands to receive a $3.5B break-up fee, which Halliburton will honor, the source says.

Pray for A Pain Free Day!

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