They so screwed this up its incredible and now they have to pay the price. Next time you want to do a big acquisition take some time to think about it and perhaps even plan it or do a risk assessment. If that doesn't work go talk with Schlumberger and learn how they are able to execute these types of acquisitions flawlessly (smith, cameron, etc) to become the worlds largest service company.
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The deal will go through but not as expected. You think the majority of Halliburton employees will guide the Baker boys into a combined company but it will be Baker employees that form the majority as this is easier to gain power
Its not dead and the latest news is Halliburton are willing to sell 95% of their business it could still go through
The Schlumberger exec team have been rolling around laughing at this fiasco for the last 2 years. Big Blue is kicking Halliburton's ass and its all self inflicted through sheer incompetence on part of the current Halliburton management team and nothing to do with dic---ad Cheney.
Anyone who thinks SLB's Smith and Cameron "acquisitions" were flawless knows nothing. Ask a few SLB employees about how well their in-process "transformation" is going!
This time HAL is doing a much better job of planning the merger compared to when they took over Dresser. But they underestimated the hatred for Halliburton still held by the US regulatory agencies since the Cheney days. Combine that with the precipitous drop in oil prices ( which no on saw coming as this severe) and the deal is in trouble. Will it happen? Who knows - including doomsayers like the OP.
It would be funny of they both went down in flames because of this. Schlumberger wins by default!
It wouldn't be the first time Halliburton screwed something up. From a former employee...
Halliburton has until July to convince EU over Baker Hughes deal
By GASPARD SEBAG, STEPHANIE BODONI on 3/10/2016
HOUSTON (Bloomberg) -- Halliburton Co. faces a new July 11 deadline to convince European Union regulators to approve its acquisition of Baker Hughes Inc. as the oil-service providers continue to work on a package of concessions to assuage competition concerns.
The European Commission said it restarted the clock on its review after suspending the deadline last month to await important extra details about the deal.
“Halliburton and Baker Hughes confirm the companies have provided additional information to the European Commission for its ongoing review,” spokeswoman Emily Mir said in an email. The companies “continue to work constructively” with all competition authorities reviewing the deal.
Halliburton agreed to buy Baker Hughes in November 2014 in a cash-and-stock deal that at the time was valued at about $35 billion. The transaction was scheduled to close last year, but has been delayed as the companies seek to resolve antitrust concerns in the U.S. and Europe.
Halliburton has been adding assets to the list of businesses it plans to sell to gain antitrust approval. The company plans to divest Baker’s offshore drilling-and-completions fluids division and the bulk of Baker’s completion systems, people familiar with the matter said last month.
The EU merger authority opened an in-depth probe into the deal on Jan. 12, citing concerns that combining the second- and third-largest suppliers to oil exploration companies may impede competition and increase prices.
http://www.worldoil.com/news/2016/3/10/halliburton-has-until-july-to-convince-eu-over-baker-hughes-deal