European Commission extends Halliburton-Baker Hughes deal review

Reuters

Feb 3 (Reuters) - Oilfield services provider Baker Hughes Inc said the European Commission had extended the review of its merger with Halliburton Co by 20 working days.

Halliburton had said last month that it was yet to reach an agreement with U.S. and European regulators about the "adequacy" of proposed divestitures.

The two companies have so far disclosed plans to divest businesses with combined 2013 revenue of $5.2 billion.

The companies will provide the commission a "remedies package" in the "near future" to address the regulator's concerns, Baker Hughes said in a filing on Wednesday.

"Halliburton remains focused on closing the transaction as early as possible in 2016," Baker Hughes said.

The companies extended in December the deadline for the deal, which will create the second-largest oilfield services company after Schlumberger Ltd, to April 30 from late November.

(Reporting by Manish Parashar in Bengaluru; Editing by Kirti Pandey)

Copyright 2016 Thomson Reuters. Click for Restrictions.

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