Halliburton in talks to buy Baker Hughes

Oilfield services provider Halliburton Co is in talks to buy rival Baker Hughes Inc, a person familiar with the matter said on Thursday, but any potential deal could run into antitrust concerns.Officials at Baker Hughes and Halliburton, both based in Houston, declined to comment on the talks, which were first reported by Dow Jones and in The Wall Street Journal. The person familiar with the matter spoke to Reuters on condition of anonymity.Oil prices have slid by a third since June, eroding demand for drilling services and pummeling stock prices. Producers have pressured the services companies to slash prices, and a tie up between the No. 2 and No. 3 players in the industry might allow them to better weather the downturn.A potential merger would create a drilling, logistics and well services giant worth $67 billion. Halliburton has reported having 80,000 employees and Baker Hughes 61,000.

via Halliburton in talks to buy Baker Hughes: source | Reuters.

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