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UPDATED: U.S. DOJ Files Lawsuit Against Halliburton-Baker Hughes Deal
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The U.S. Department of Justice (DOJ) has filed a lawsuit that aims to stop the company's proposed $34.6B takeover of Baker Hughes, according to a press release issued on April 6 (see below).
Official AnnouncementThe Department of Justice filed a civil antitrust lawsuit today seeking to block Halliburton Company’s proposed acquisition of Baker Hughes Inc., alleging that the transaction threatens to eliminate competition, raise prices and reduce innovation in the oilfield services industry.
The department filed its lawsuit in the U.S. District Court for the District of Delaware, where both companies are incorporated. The complaint alleges that the acquisition – which the companies valued at $34 billion when announcing it – would combine two of the three largest oilfield services companies…
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