M a r k e t N e w s

Potential Mega Merger in the Oilfield Services Sector

Posted on : Friday, 14th November 2014

There is a potential merger in the works that if goes forward, would be the most significant combination in the history of oil services and drilling. Two of the oilfield service industry’s firms, Halliburton and Baker Hughes, are in preliminary talks on a potential merger. A Baker Hughes statement said the discussions “may or may not lead to any transaction.” The Wall Street Journal cited people close to the deal as saying that the talks are moving quickly.

If the transaction takes place it would combine the world’s second and third largest oil service companies, giving the one larger firm a market cap in the range of $75 billion, leaving only Schlumberger at a market cap of around $120 billion larger than the two combined firms.  Any potential deal between the companies could run into antitrust concerns and might have to sell off some assets to convince authorities that there is not a competition issue.
Shares of Baker Hughes spiked on the news of the potential merger, and were halted in afternoon trading. In after hours trading, Baker shares were bid above $60 per share, up 26% from levels near $49 as traders buy this news

Source : petroleum africa
Featured Companies
  • /
  • African Business Development Association
  • /
  • TITAN Containers A/S
  • Mercury Tube Products
  • SMES Today Magazine
  • DOOREE INTERNATIONAL CO LTD
  • africabusiness.com
  • Your Banner HERE!

Complete List  

Advertisers:

Afrotrade International Marketing, Tel: +971-50-6285684
© 1998-2021 Afrotrade