Advertisement
Singapore markets closed
  • Straits Times Index

    3,176.51
    -11.15 (-0.35%)
     
  • Nikkei

    37,068.35
    -1,011.35 (-2.66%)
     
  • Hang Seng

    16,224.14
    -161.73 (-0.99%)
     
  • FTSE 100

    7,895.85
    +18.80 (+0.24%)
     
  • Bitcoin USD

    63,997.38
    +859.98 (+1.36%)
     
  • CMC Crypto 200

    1,370.83
    +58.21 (+4.43%)
     
  • S&P 500

    4,967.23
    -43.89 (-0.88%)
     
  • Dow

    37,986.40
    +211.02 (+0.56%)
     
  • Nasdaq

    15,282.01
    -319.49 (-2.05%)
     
  • Gold

    2,406.70
    +8.70 (+0.36%)
     
  • Crude Oil

    83.24
    +0.51 (+0.62%)
     
  • 10-Yr Bond

    4.6150
    -0.0320 (-0.69%)
     
  • FTSE Bursa Malaysia

    1,547.57
    +2.81 (+0.18%)
     
  • Jakarta Composite Index

    7,087.32
    -79.50 (-1.11%)
     
  • PSE Index

    6,443.00
    -80.19 (-1.23%)
     

U.S. antitrust regulators seek more detail on Halliburton deal

(Reuters) - U.S. antitrust regulators have asked Halliburton Co (HAL.N) and Baker Hughes Inc (BHI.N) for more information related to the oilfield services companies' proposed $35 billion (£23 billion) merger, the companies said on Tuesday.

The deal, announced in November, was expected to face stiff scrutiny from the Department of Justice because the two companies have overlapping business units not only in the United States, but also in Asia and Europe.

"The second requests are a standard part of the regulatory review process by the DOJ and were expected by Halliburton and Baker Hughes," the companies said in a statement.

Halliburton had previously said it was willing to divest businesses with combined revenue of $7.5 billion to satisfy regulators. The tie-up will create the world's second-largest oilfield service company behind Schlumberger Ltd (SLB.N).

ADVERTISEMENT

The government's second request for information extends the waiting period required until 30 days after the companies have fully complied, the companies said. In November, Halliburton said it expected the deal to close in the second half of this year.

Earlier on Tuesday, the company said it would cut its workforce by up to 8 percent because of low oil prices. In January Chief Operating Officer Jeffrey Miller said on an earnings call that the company's job reductions would be in line with those of its peers.

(Reporting by Anna Driver; Editing by Terry Wade)