EU regulators suspend review of Halliburton, Baker Hughes

European Union

European Union

03 August 2015, Brussels – European Union antitrust regulators have suspended their review of Halliburton Co’s $35 billion bid for oilfield services rival Baker Hughes Inc because the companies have failed to provide sufficient data.

The European Commission, which had previously set an Aug. 27 deadline for its decision on the deal, will set a new deadline once it receives the relevant information, a Commission spokesman said on Monday.

Halliburton said on Sunday that the EU competition authority had requested for information. The deal has run into some opposition in the United States, where regulators are concerned about possible higher prices and less innovation, a source close to the investigation told Reuters last month.
*Foo Yun Chee; Jason Neely – Reuters

About the Author