Halliburton and Baker Hughes deal may be start of energy takeovers

Bloomberg News reports that Halliburton Co.’s proposed acquisition of Baker Hughes Inc. (See our Nov. 18, 2014 blog “Report: Halliburton and Baker Hughes deal will face antitrust scrutiny”) may be just the start of takeovers of big energy companies as oil prices slump amid a U.S. supply glut. The news service says that buyers with cash to spend aren’t going to let the cheapest energy company valuations in years pass them by. In addition, acquisition targets threatened by lower oil prices may become more willing sellers, according to Bloomberg.