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Federal suit to stop deal between 2 oilfield services firms

2016-04-06 17:25:13| Energy - Topix.net

The Justice Department has sued to stop Halliburton from acquiring oilfield services rival Baker Hughes , saying it would eliminate critical competition in the energy markets. The deal, valued at $34.6 billion when announced in late 2014 , shortly after oil prices began to fall, would combine two of the world's three leading providers of those services to oil and gas companies.

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