Halliburton plans to sell three drilling businesses

• Halliburton (NYSE:HAL) says it will separately sell three drilling businesses - drill bits, directional drilling, and LWD/MWD - as it seeks regulatory approval for its acquisition of Baker Hughes.
• HAL says it would prefer to retain the assets but will be required to divest some of its overlapping businesses to obtain approval for the Baker Hughes purchase.
• HAL expects to complete the sale of the businesses in the same time frame as the closing of the BHI deal late in H2 2015.