EU reg­u­la­tors sus­pend re­view of Hal­libur­ton, Baker Hughes

The Pak Banker - - INTERNATIONAL BUSINESS/SPORTS -

Euro­pean Union an­titrust reg­u­la­tors have sus­pended their re­view of Hal­libur­ton Co's (HAL.N) $35 bil­lion bid for oil­field ser­vices ri­val Baker Hughes Inc (BHI.N) be­cause the com­pa­nies have failed to pro­vide suf­fi­cient data.

The Euro­pean Com­mis­sion, which had pre­vi­ously set an Aug. 27 dead­line for its de­ci­sion on the deal, will set a new dead­line once it re­ceives the rel­e­vant in­for­ma­tion, a Com­mis­sion spokesman said on Mon­day. Hal­libur­ton said on Sun­day that the EU com­pe­ti­tion au­thor­ity had re­quested for in­for­ma­tion. The deal has run into some op­po­si­tion in the United States, where reg­u­la­tors are con­cerned about pos­si­ble higher prices and less in­no­va­tion, a source close to in­ves­ti­ga­tion told Reuters last month.

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