Mr. Dave Lesar, CEO of oilfield services giant Halliburton today announced his proposed buyout of #1 oilfield services company Schlumberger, saying that "it is time to admit that it was a mistake to go after a less capable company such as Baker Hughes, and upon this realization, we decided that if Halliburton is destined to become the Number 1 company in our field, we must go after the acknowledged leader.
Mr. Lesar did not disclose the anticipated purchase price, but did say that he thanks all of Halliburton's employees, both past and present, for making it possible.
"It will be a legacy for the history books", Mr Lesar said in closing.