DOW vs. BITCOIN: Which One Could Reach 40,000 in the Next 12 Months?

Louis Navellier and Matt McCall reveal their #1 picks for the coming bull market for FREE.

HAL, BHI: DOJ Sues to Stop Halliburton Company-Baker Hughes Incorporated Deal

Halliburton and Baker Hughes will continue to purse the merger

The Department of Justice (DOJ) is suing to stop the the merger of Halliburton Company (HAL) and Baker Hughes Incorporated (BHI).

Halliburton, Baker Hughes, HAL, BHIThe lawsuit filed by the DOJ argues that the merger of Halliburton and Baker Hughes, two of the three largest oil companies, would raise prices, reduce competition and hamper innovation in the industry. The two companies are looking to fight the lawsuit.

Halliburton has been working to gain approval from regulators for the merger. If it can’t, it will have to pay a $3.5 billion termination fee to Baker Hughes. The deal has a termination date of April 30, but BHI may choose to extend it beyond that, reports TheStreet.com

Halliburton has sold off $7.5 billion in businesses and assets in order to receive approval from the DOJ for the merger. However, that wasn’t enough and sources claim the DOJ wants the company to sell a total of $10 billion in businesses and assets off for approval of the deal.

HAL shares were up 5% and BHI shares were up 6% as of Wednesday afternoon.

More From InvestorPlace:


Article printed from InvestorPlace Media, https://investorplace.com/2016/04/halliburton-baker-hughes-hal-bhi/.

©2020 InvestorPlace Media, LLC