Halliburton Co (HAL.N) Key Developments | Reuters.com
Edition:
United States

Halliburton Co (HAL.N)

HAL.N on New York Stock Exchange

44.59USD
4:00pm EDT
Change (% chg)

$1.32 (+3.05%)
Prev Close
$43.27
Open
$43.79
Day's High
$45.02
Day's Low
$43.56
Volume
2,696,243
Avg. Vol
3,122,590
52-wk High
$46.69
52-wk Low
$27.65

Latest Key Developments (Source: Significant Developments)

EU stops Halliburton Co, Baker Hughes Inc deal probe again, wants more info - Reuters News
Monday, 21 Mar 2016 01:49am EDT 

Halliburton Co:Halliburton's plan to acquire Baker Hughes BHI.N and create the world's biggest U.S. oilfield services provider faces more delay after European Union antitrust regulators halted their investigation into the $35 billion deal for the second time - RTRS.The European Commission said the companies have yet to provide an important piece of information."Once the missing information is supplied by the parties, the clock is re-started and the deadline for the Commission’s decision is then adjusted accordingly," Commission spokesman Ricardo Cardoso said in an email.The EU competition authority is concerned that the deal may reduce competition and innovation in more than 30 product markets, both onshore and offshore.It had suspended the deal review for about two weeks in February for a similar reason. Halliburton, which is willing to divest businesses with combined 2013 revenue of $5.2 billion to sooth regulators, has yet to make a formal offer of concessions.The deal comes amid weak oil prices and reduced drilling activity.  Full Article

Halliburton Co to slash 5,000 more jobs amid oil slump - Reuters
Thursday, 25 Feb 2016 02:27pm EST 

Halliburton Co:Halliburton Co, pressured by a prolonged slump in crude oil prices, will further slash its workforce by about 8 percent, or by 5,000 jobs, company spokeswoman Emily Mir told Reuters on Thursday. - RTRS.  Full Article

Halliburton Company - EU halts Halliburton, Baker Hughes deal review, awaits details - Reuters
Monday, 22 Feb 2016 12:26am EST 

Halliburton Company:European Union antitrust regulators have halted their scrutiny of U.S. oilfield services provider Halliburton Co's HAL.N proposed takeover of Baker Hughes BHI.N because the companies failed to provide some details of the $35 billion deal - RTRS.The European Commission took the decision last Thursday, according to a filing on its website."This is a standard procedure on merger investigations which is activated if the notifying parties do not provide an important piece of information that the Commission has requested from them," Commission spokesman Ricardo Cardoso said in an email.The EU competition authority will set a new deadline for its decision when it has the required information from the companies. The previous deadline was June 23.Halliburton is prepared to sell businesses with combined 2013 revenue of $5.2 billion to appease regulators worried about higher prices and less innovation following the merger. It has yet to make a formal offer to the Commission.U.S. antitrust regulators are also examining the bid which has received the green light in Canada, Colombia, Ecuador, Kazakhstan, South Africa and Turkey.The deal comes amid falling oil prices and reduced drilling activity as oil producers mothball rigs and scale back spending.  Full Article

Halliburton Company - EU probes Halliburton merger with Baker Hughes - AP
Tuesday, 12 Jan 2016 08:31am EST 

Halliburton Company:The European Union's anti-trust watchdog has opened an investigation into U.S. oilfield service provider Halliburton's planned merger with rival Baker Hughes. - AP.The European Commission, which oversees competition issues in Europe, said in a statement on Tuesday that its probe would assess whether the move "would impede effective competition in breach of the EU merger regulation." - AP.The merger has also drawn the attention of U.S. federal regulators, and the companies had been divesting assets to win approval for the deal. - AP.The takeover would unite the world's second- and third-largest oilfield service suppliers against market leader Schlumberger - AP.EU Competition Commissioner Margrethe Vestager said the commission must ensure that any merger "would not reduce choice or push up prices for oil and gas exploration and production services in the EU." - AP.  Full Article

Halliburton Co to Face Lengthy EU Review on Baker Hughes Deal - MIDTRD
Wednesday, 6 Jan 2016 10:39am EST 

Halliburton Co:Halliburton shares were slipping Wednesday morning after the oil service company did not offer early remedies to European Union regulators to appease their competition concerns regarding the company's proposed acquisition of rival Baker Hughes for $26 bln, Bloomberg reported - MIDTRD.The company passed on its chance to offer concessions to the European Commission by midnight Tuesday, meaning that European regulators will likely open a lengthy review of the proposed merger by Jan. 12, the report said. - MIDTRD.If European regulators open an in-depth probe, the European Union's final decision on the deal could be pushed into May, beyond the April 30 date set by the two companies to close the deal, Bloomberg added - MIDTRD.Both companies did not respond to a request for comment, the report noted. - MIDTRD.  Full Article

Halliburton Co- Australian tax office names in multinational avoidance row - Reuters
Wednesday, 16 Dec 2015 12:25pm EST 

Halliburton Co:Australian tax authorities on Thursday took the unprecedented step of publishing the records of hundreds of companies, which show they paid little or no tax on their in-country earnings - RTRS.Of more than 1,500 largely foreign-owned companies which reported total earnings over A$100 mln ($72.11 mln) in the 2014 financial year, more than a third paid no tax, the Australian Taxation Office data showed. - RTRS.Australia has led efforts at the Group of 20 rich nations to close tax loopholes, but the ATO's move appears to have caught ministers off-guard - RTRS."Just because they don't pay tax doesn't mean that they are avoiding tax," Assistant Treasurer Kelly O'Dwyer told reporters, adding the government had strengthened the ATO's powers to ensure corporations paid their dues. - RTRS.Commissioner of Taxation Chris Jordan criticised certain foreign-owned companies for being "overly aggressive in the way they structure their operations". - RTRS."We will continue to challenge the more aggressive arrangements to show that we are resolute about ensuring companies are not unreasonably playing on the edge. - RTRS.The ATO has the powers to release such sensitive corporate information but has never done so until now.Among the offshore firms that paid no tax on their Australian earnings were Halliburton Co, Hilton Worldwide Holdings Inc, Boeing Co , BAE Systems Plc, SABMiller Plc SAB.L, Honda Motor and Ford Motor Co - RTRS.  Full Article

Halliburton Co to be told about EU concerns over Baker Hughes deal - source - Reuters
Friday, 11 Dec 2015 02:33pm EST 

Halliburton Co:Halliburton will meet EU antitrust regulators next week and is likely to be told about competition worries over its $35 billion bid for Baker Hughes BHI.N, a person familiar with the matter said on Friday - RTRS.The European Commission has been reviewing the proposed tie-up of the No. 2 and No. 3 players since Nov. 27 when Halliburton refiled a request for approval after an earlier application was dismissed as providing insufficient data - RTRS.The preliminary scrutiny is scheduled to end on Jan. 12. - RTRS.The so-called state of play meeting is scheduled for late next week. Such events, which usually take place at the end of the third week of the Commission's preliminary scrutiny, are typically an opportunity for the enforcer to set out potential problems arising from merger deals. - RTRS.They also ratchet up the pressure on companies to offer concessions or face a lengthy investigation which could last five months or more - RTRS.U.S. antitrust authorities are also looking into the deal which has already been cleared in Canada, Kazakhstan, South Africa, Colombia and Turkey. Decisions from Australia and Brazil are pending - RTRS.  Full Article

Halliburton to Issue $7.5 billion of senior notes
Thursday, 5 Nov 2015 07:00pm EST 

Halliburton Co:Announced the pricing of an offering of $7.5 billion aggregate principal amount of senior notes.Notes are being issued in five tranches.Intends to use the net proceeds of the offering for general corporate purposes.  Full Article

Halliburton fourth quarter dividend
Tuesday, 3 Nov 2015 04:30pm EST 

Halliburton Co:Declared a 2015 fourth quarter dividend of $0.18 a share on the company's common stock.Payable December 24, 2015, to shareholders of record at the close of business on December 3, 2015.  Full Article

Halliburton Co and Baker Hughes Inc announce additional divestiture proposals
Sunday, 27 Sep 2015 07:00am EDT 

Halliburton Co and Baker Hughes Inc:Say that the companies will market for sale additional businesses in connection with Halliburton's pending acquisition of Baker Hughes.Say DOJ timing agreement extended three weeks to Dec. 15.Says there is no agreement to date with any competition enforcement authority as to the adequacy of the proposed divestitures.  Full Article

BRIEF-Fitch plans to withdraw ratings of Halliburton Company

* Fitch plans to withdraw ratings of Halliburton Company Source text for Eikon: Further company coverage: