Deals
Halliburton Faces Long EU Probe on Missing Early Offer Slot
- EU will open in-depth review into Baker Hughes deal by Jan. 12
- Companies had until midnight Tuesday to give remedies to EU
This article is for subscribers only.
Halliburton Co. passed on a chance to offer early concessions to European Union regulators, meaning it will probably face a protracted antitrust review of its plan to buy oil services rival Baker Hughes Inc. for $26 billion.
Halliburton had until midnight Tuesday to propose remedies to the European Commission in Brussels but passed up the opportunity, according to the regulator’s press office. The EU will probably open an in-depth investigation into competition concerns by Jan. 12, the regulator’s cut-off for an early ruling.