- European regulators say they are opening a full-blown antitrust investigation into Halliburton's (NYSE:HAL -2.5%) planned takeover of Baker Hughes (BHI -2.2%), warning the deal raises “serious potential competition concerns.”
- The European Commission, the European Union’s top antitrust authority, says it is opening an in-depth probe after its initial inquiry showed HAL and BHI were close competitors and found serious potential concerns in more than 30 product and service lines.
- HAL and BHI call the investigation a "normal step" in the review process, and that the companies expect to offer "a substantial remedies package... that will address any substantive competition concerns."