Houston Matters

Justice Department Sues Halliburton To Stop Acquisition Of Baker Hughes

Amid news that the U.S. Justice Department is suing to block the proposed merger of Halliburton and Baker-Hughes, we revisit our conversation from just last month about the possibility this deal could be squelched. Just a couple months ago, during one of our internal weekly pitch meetings to discuss future Houston Matters topics, one of […]

Photo: Michael Hagerty, Houston Public Media

Amid news that the U.S. Justice Department is suing to block the proposed merger of Halliburton and Baker-Hughes, we revisit our conversation from just last month about the possibility this deal could be squelched.

Just a couple months ago, during one of our internal weekly pitch meetings to discuss future Houston Matters topics, one of us blurted out, “Hey, whatever happened to the Halliburton/Baker Hughes merger?”

So we asked Loren Steffy, managing director for 30 Point Strategies, a writer-at-large for Texas Monthly and columnist for EnergyVoice.com, why this proposed merger of the second- and third-largest oilfield service companies — first announced in November 2014 — hadn’t actually happened yet.

Would it indeed be scuttled by a Justice Department review to determine if the proposed merger would pass anti-trust muster?

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