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  • Halliburton, Baker Hughes in merger talks
 

Halliburton, Baker Hughes in merger talks

Halliburton, Baker Hughes in merger talks

by magna / Tuesday, 25 November 2014 / Published in Capital Market News

Baker Hughes and Halliburton are in ‘preliminary talk  to a possible merger between the two oil services providers, Baker Hughes confirmed over the weekend.

“These discussions may  lead to any transaction. Baker Hughes does not intend to comment further on market speculation or disclose any developments unless and until it otherwise deems further disclosure is appropriate or required,” the company said.

After rumors of the possible merger leaked recently,  Baker Hughes’ stock price rose approximately 15% from US$50.98 at closing onto $58.75 .  Baker Hughes’ stock is trading at $59.48 per share with news of the merger talks confirmed. Alternatively, Halliburton’s stock hasn’t risen as dramatically following the news. Halliburton’s stock was worth $53.23 per share at close on Wednesday and ended at 53.79 on Thursday after news broke. Currently, Halliburton is trading at $54.92.

Source : Independent

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