The $35 billion mega merger between oil-field-service rivals Halliburton and Baker Hughes has been terminated due to opposition from US and European antitrust regulators. This deal, if it had come through, would have brought the world’s second and third largest oil services companies together giving rise to concerns about a higher prices in the sector. A contract of Halliburton’s cash-and-stock buy of Baker Hughes of the value of $34.6 billion when announced in November 2014 and worth $28 billion now, expired without the companies agreeing to extend it. The failure of the deal has come when both the companies are struggling to meet the consequences of low energy prices on their clients.
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