The merger between oil service companies Halliburton & Baker Hughes will not proceed reports Reuters.
- Quoting 'a person familiar with the matter'
- Antitrust concerns in both Europe and US said to have scuttled the planned deal
Reuters qualify that:
The source asked not to be identified because no official announcement has yet been made. Halliburton and Baker Hughes did not immediately respond to requests for comment.
I particularly liked this bit .... "Baker Hughes stands to receive a $3.5 billion breakup fee"
Anyone got a business they'd like to merge with Halliburton? With any luck it'd fall apart and you'd get a 3.5bn break up fee cheque :-D