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Controversial business fling costs Halliburton USD 3.5 billion

Major US oil service provider Halliburton must now cough up USD 3.5 billion to competitor Baker Hughes to compensate for the termination of the planned merger between the two companies.

Photo: David Zalubowski/AP/POLFOTO

A failed merger becomes a big expense for the US oil service major Halliburton. The company must cough up USD 3.5 billion to competitor Baker Hughes as compensation for the termination of the planned merger between the two companies.

The plans for combining the companies were dropped on Sunday according to a collective statement from both parties.

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