BJS would have survived but overbloated Baker is in trouble guys. Jobs deffo to go again. Years of low work coming. Time to get out...
Lawyers reviewing the potential deal for the Justice Department are concerned there will be less competition in the oilfield services industry if the acquisition goes through.
Officials are unconvinced that Halliburton's plan to sell some assets to other companies would restore significant competition to the industry, Bloomberg said.
No final decision has been made, but Bloomberg noted that the DOJ's antitrust division is in the position to carry out a legal challenge if it decides to try and stop the deal. The two companies are hoping to close the transaction by this December.
Additionally, Baker Hughes reported its 2015 second quarter earnings results on Tuesday, It posted a net loss and a decline in revenue, while forecasting that it will likely struggle with headwinds from falling oil prices for the rest of the year, The Wall Street Journal reported.