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2016-05-03 15:10:00

HALLIBURTON & BAKER HUGHES TERMINATION

HALLIBURTON & BAKER HUGHES TERMINATION

HOUSTON--Halliburton Company (NYSE:HAL) and Baker Hughes Incorporated (NYSE:BHI) announced that the companies have terminated the merger agreement they entered into in November 2014, effective April 30, 2016.

"While both companies expected the proposed merger to result in compelling benefits to shareholders, customers and other stakeholders, challenges in obtaining remaining regulatory approvals and general industry conditions that severely damaged deal economics led to the conclusion that termination is the best course of action," said Dave Lesar, Chairman and Chief Executive Officer of Halliburton. "I sincerely thank…

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Tags: HALLIBURTON, BAKER, HUGHES, MERGER
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