Washington, DC–(ENEWSPF)–May 1, 2016. The Department of Justice announced today that Halliburton and Baker Hughes have abandoned their planned merger, originally valued at $34 billion. The department filed suit on April 6, 2016, to block the merger, alleging that the transaction would unlawfully eliminate significant head-to-head competition between the companies in at least 23 markets crucial to the exploration and production of oil and natural gas in the United States.
“The companies’ decision to abandon…
