Deals
Halliburton Bid for Baker Hughes in Limbo as Deadline Looms
- Companies said to have made final pitch to antitrust chief
- Justice Department lawsuit may come next week if no extension
This article is for subscribers only.
Halliburton Co.’s takeover bid for Baker Hughes Inc. has come down to the wire with the U.S. Justice Department, which may decide this week whether to approve the deal after months of negotiations.
Halliburton has presented a package of proposed asset sales to antitrust officials in hopes of allaying their concerns that the tie-up between the No. 2 and No. 3 players in the oil-services industry would be anticompetitive. A recent meeting was held with Bill Baer, the head of the Justice Department’s antitrust division, who will make the final decision, said a person familiar with the discussions. The meeting is a sign the review is drawing to a close.