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Halliburton, Baker Hughes extend deal closing to Dec. 1 to give DOJ review more time

( July 10, 2015, 21:24 GMT | Official Statement) -- MLex Summary: Oil-field services providers Halliburton and Baker Hughes have agreed to extend the closing date of their proposed merger to Dec. 1 in order to give the Department of Justice enough time to conduct its antitrust review, the companies said in a statement Friday. Halliburton and Baker Hughes have entered into a timing agreement with the department in which they have pledged to extend the DOJ review to Nov. 25 or 90 days after both companies comply with the DOJ's second request for additional information, whichever date is later. The companies expect to comply with the second request sometime in "mid-summer," according to the statement. In addition to Halliburton's previously announced plan to sell its fixed cutter and roller cone drill bits, directional drilling and logging-while-drilling (LWD)-measurement-while-drilling (MWD) businesses, the company has proposed other divestitures to ease antitrust concerns, the companies said.Statement follows in full....

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