Halliburton / Baker Hughes $28billion merger called off

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Source: Bloomberg – 02/05/2016

Halliburton Co. and Baker Hughes Inc. called off their $28 billion merger, which has met stiff antitrust resistance from regulators in the U.S. and Europe.

The companies, the second- and third-largest oil-service firms, announced in a statement May 1 that the combination had been terminated. The companies had set a deadline for the end of April to complete the deal or walk away. Halliburton will pay Baker Hughes a $3.5 billion termination fee by May 4.

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