Report: Halliburton’s takeover of Baker Hughes facing government resistance

BloombergBusiness reports that Halliburton Co.’s pending takeover of Baker Hughes Inc. is facing resistance from U.S. government officials who are concerned the acquisition could hurt competition. Citing a person “familiar with the matter,” the news service says Department of Justice lawyers reviewing the proposed $34.6 billion transaction are worried about consolidation in the industry from combining the No. 2 and No. 3 oilfield services firms. Though Halliburton has proposed selling some assets to other companies, Bloomberg says government officials aren’t convinced the plan would maintain sufficient competition. For more, read the full story.