Baker Hughes bought by Halliburton

[Driver101]

Just reading that Baker has been bought for $34.6bn by Halliburton.

I know a lot of people on here work in the industry so thought I'd start a topic.

I wonder what the plans are and how it will affect employees of both companies?

[bigweb]

My Dad works for Baker Hughes. I will ask him some more about it..

[parabolica]

It's only been announced; there'll be no plans yet. It'll be a year or two before anything major happens, assuming they get regulatory clearance.

[Du1point8]

The old man is Halliburton, will ask him, thats how he started working for them, he was Baroid.

Started off as Baroid
http://www.halliburton.com/en-US/ps/baroid/default...

They got bought out by Sperry sun
http://www.halliburton.com/en-US/ps/sperry/sperry-...

Halliburton comes along and snaps up Sperry Sun

[bigweb]

Looking at it I think it will be a struggle to get through Antitrust etc.

[andyxs]

It is going to be interesting, When Halliburton bought sperry sun they had to sell off a couple of there own departments such as there logging department and I think??? Pathfinder, So I expect plenty of chopping and changing for all of us in the industry as I expect the Big blue giant (SLB) will be waiting to snap up the bits they have to get rid of. But apparently Halliburton have retained a top anti trust lawyer and there is a penalty payment for Hali if it doesn't go through.

[bigweb]

andyxs said:

It is going to be interesting, When Halliburton bought sperry sun they had to sell off a couple of there own departments such as there logging department and I think??? Pathfinder, So I expect plenty of chopping and changing for all of us in the industry as I expect the Big blue giant (SLB) will be waiting to snap up the bits they have to get rid of. But apparently Halliburton have retained a top anti trust lawyer and there is a penalty payment for Hali if it doesn't go through.

I read it was $3.5Bn so I assume they must be pretty confident of getting it through!