Halliburton and Baker Hughes Scrap $28B Merger

Staff Writer

Fox News — Oilfield services provider Halliburton and smaller rival Baker Hughes announced the termination of their $28 billion merger deal on Sunday after opposition from U.S. and European antitrust regulators.

The tie-up would have brought together the world's No. 2 and No. 3 oil services companies, raising concerns it would result in higher prices in the sector. It is the latest example of a large merger deal failing to make it to the finish line because of antitrust hurdles.

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