WORLD
Competition issues scupper Halliburton-Baker Hughes merger
Baku, May 3, AZERTAC
Oilfield services provider Halliburton and smaller rival Baker Hughes have called off their merger after US and European anti-trust regulators said the tie-up could reduce competition and innovation, according to Euronews.
Worth $28 billion (24 billion euros) – it would have brought together the world’s second and third largest companies in that field.
“Challenges in obtaining remaining regulatory approvals and general industry conditions that severely damaged deal economics led to the conclusion that termination is the best course of action,” said Dave Lesar, chief executive of Halliburton.
“The companies’ decision to abandon this transaction – which would have left many oilfield service markets in the hands of a duopoly – is a victory for the US economy and for all Americans,” US Attorney General Loretta Lynch said.
The European Commission had also previously expressed concerns.
FEEDBACK
Other news in this section
- 23.04.2024 [13:59]
Tunisia, Algeria, Libya agree to advance cooperation
- 23.04.2024 [13:33]
Copernicus report shows year of weather extremes in Europe
- 23.04.2024 [10:19]
4 missing after vessel hit bridge in China's Guangdong
- 23.04.2024 [10:12]
10 killed after 2 Malaysian military helicopters crash
- 22.04.2024 [18:20]
Egypt reclaims 3,400-year-old stolen statue of King Ramses II
- 22.04.2024 [14:45]
Global defence budget jumps to record high of $2440bn
- 22.04.2024 [13:46]
Türkiye's President Erdogan arrives in Iraq's capital Baghdad for talks
- 22.04.2024 [12:54]
UN says heavy rains to affect about 770,000 people in Somalia
Oil prices in global markets
- [11:24]
Pakistan-Azerbaijan Economic Integration Model: An Expert Opinion
- 22.04.2024 [23:55]
Azerbaijani FM embarks on official visit to Czech Republic
- 22.04.2024 [23:47]
President Ilham Aliyev concluded his working visit to Russia
- 22.04.2024 [23:32]
President of Russia: BAM shapes global logistics for the entire 21st century
- 22.04.2024 [21:34]
Chair of Georgian Parliament’s committee visits Milli Majlis
- 22.04.2024 [21:08]
Presidents of Azerbaijan and Russia had joint dinner
- 22.04.2024 [20:55]
Jordan welcomes Azerbaijan-Armenia agreement and border demarcation efforts
- 22.04.2024 [19:06]
Azerbaijani boxer beats Armenian rival at European Championships in Serbia
- 22.04.2024 [18:53]
Egypt reclaims 3,400-year-old stolen statue of King Ramses II
- 22.04.2024 [18:20]
Baku Engineering University teams shine at Robotex Türkiye
- 22.04.2024 [17:56]
Azerbaijan, Georgia discuss cooperation in transport and ICT sectors
- 22.04.2024 [17:10]
ANAMA: 452 unexploded ordnances neutralized over past week
- 22.04.2024 [15:44]
Azerbaijani judokas shine at Lignano Junior European Cup 2024
- 22.04.2024 [15:33]
160 Chinese electric buses to hit the roads in Azerbaijan in 2024
- 22.04.2024 [15:14]
Global defence budget jumps to record high of $2440bn
- 22.04.2024 [14:45]
Conference on Azerbaijan-China relations commences in Baku VIDEO
- 22.04.2024 [14:27]
Türkiye's President Erdogan arrives in Iraq's capital Baghdad for talks
- 22.04.2024 [13:46]
Sun Zhuangzhi: Azerbaijan is of great significance to Chinese people
- 22.04.2024 [12:59]
UN says heavy rains to affect about 770,000 people in Somalia
- 22.04.2024 [12:54]
Air Defense Units conduct live-fire tactical exercise
- 22.04.2024 [12:51]
11 missing in Guangdong rainstorm
- 22.04.2024 [11:41]
Azerbaijani Paralympic swimmer secures European gold in Portugal
- 22.04.2024 [11:13]
UK returns looted Ghana treasures on loan in six-year deal
- 22.04.2024 [10:58]
Global oil prices drop
- 22.04.2024 [10:57]
Azerbaijan relocates 39 more families to Fuzuli city VIDEO
- 22.04.2024 [10:57]
UAE welcomes agreement between Azerbaijan and Armenia
- 22.04.2024 [10:50]
Real Madrid secure hard-fought 3-2 win against Barcelona
- 22.04.2024 [10:31]
1,300 people evacuated as 1999 NATO bomb removed from Serbian city
- 22.04.2024 [10:27]
Japan PM sends offering to war-linked Yasukuni shrine for spring rite
- 22.04.2024 [10:22]
Ersin Tatar announces upcoming visit to Azerbaijan
- 21.04.2024 [21:18]
Two Japan navy helicopters crash, one body found, 7 missing
- 21.04.2024 [14:18]
China launches new remote sensing satellite VIDEO
- 21.04.2024 [14:07]
US House approves major military aid package for Ukraine
- 21.04.2024 [11:40]
Silva brings 1-0 FA Cup semifinal victory to Manchester City against Chelsea
- 21.04.2024 [10:12]
Charles Michel welcomes agreement between Armenia and Azerbaijan
- 20.04.2024 [21:34]
‘We are pleased for Azerbaijan to host COP29 Conference’
- 20.04.2024 [20:35]
China’s Russian oil imports rise by 13% in first quarter of 2024 — customs
- 20.04.2024 [20:25]
Ecuador president declares state of emergency over energy crisis
- 20.04.2024 [20:20]
Azerbaijani gymnast advances to World Cup final in Baku
- 20.04.2024 [20:11]
Nigar Arpadarai: All partners have strong interest in COP29
- 20.04.2024 [20:03]
Cannes Film Festival 2024 poster unveiled
- 20.04.2024 [19:30]
® Bakcell to deliver a massive giveaway of 100,000 GB!
- 20.04.2024 [18:39]
AERA and ERRA hold international workshop in Baku
- 20.04.2024 [18:23]