Halliburton in Talks to Buy Baker Hughes
Halliburton is in talks to buy Baker Hughes, a potential union of two of the biggest oilfield services providers in what would be one of the biggest energy deals in years, a person briefed on the matter said on Thursday.
Negotiations between the two companies are taking place as oil prices have tumbled, causing tremors within the energy industry.
It isn't clear what price Halliburton is considering, but Baker Hughes ended trading on Wednesday with a market value of about $22 billion.
Talks are continuing and may still fall apart, this person cautioned.
Shares in Baker Hughes were up nearly 17 percent in late trading on Thursday after The Wall Street Journal reported on the negotiations.
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