Stock drops almost 10% on reports that EU has even more problems with the merger.
What would you do if you had just won 3.5 billion dollars?
9 replies (most recent on top)
This entire deal is getting squishy-er and squishy-er. What merger, other than this one, has taken as long to consummate? And, in a depressed market, the DOJ's concerns about competition/jobs seem both reasonable and warranted. Not a good sign that Halliburton's failed, thus far, to provide the confidence DOJ is looking for that a viable competitor will follow Baker, should the deal close. Given all the negatives, I'd say the best odds that can be given are 50-50. And that's being generous.
We're forgetting that GE is buying all of the divested assets thus replacing BHI as a competitor to HAL. EU is just whining, seeeeee we're important toooooooo. They'll put on some more kabuki theatre statements after the DOJ approval then put they're rubber stamp on the merger.
I think HAL will only hand over 10% of what BHI is worth today, which almost half of the 3.5 billion.
Do u really think HAL will hand over 3.5B to baker even the deal not go through? Think again
Nobody wins. Baker now is broken. If the buyout does not go through the company will go under. The VP's and directors sure can not run the tools. Who is left to do the work? Everyone laid off.
The BHI board will buy back as much stock as it can ...and then give it to themselves in stock options ...and it will all be perfectly legal..! Enron lessons have been learned.
I would buy me a box of Krispy Kremes instead of my usual Dunkin Donuts. And an extra shot of coffee
Get my 8===D plated gold
BRUSSELS (Reuters) - Oilfield services provider Halliburton (HAL.N) will meet EU antitrust regulators next week and is likely to be told about competition worries over its $35 billion bid for Baker Hughes (BHI.N), a person familiar with the matter said on Friday.
The European Commission has been reviewing the proposed tie-up of the No. 2 and No. 3 players since Nov. 27 when Halliburton refiled a request for approval after an earlier application was dismissed as providing insufficient data.