Halliburton and Baker Hughes Receive Expected Requests for Additional Information from DOJ
February 10 2015 - 4:30PM
Business Wire
Halliburton Company (NYSE: HAL) and Baker Hughes Incorporated
(NYSE: BHI) today announced that, as expected, the companies have
each received a request for additional information (“second
requests”) from the United States Department of Justice (“DOJ”) in
connection with Halliburton’s pending acquisition of Baker Hughes.
The second requests were issued under the notification requirements
of the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as
amended (“HSR Act”).
The second requests are a standard part of the regulatory review
process by the DOJ and were expected by Halliburton and Baker
Hughes. The effect of the second requests is to extend the waiting
period imposed by the HSR Act until 30 days after Halliburton and
Baker Hughes have substantially complied with the requests, unless
that period is extended voluntarily by both parties or terminated
sooner by the DOJ. Halliburton and Baker Hughes are working
cooperatively with the DOJ as it conducts its review of the
transaction, which remains subject to shareholder and other
approvals, as well as customary closing conditions.
About Halliburton
Founded in 1919, Halliburton is one of the world's largest
providers of products and services to the energy industry. With
more than 80,000 employees, representing 140 nationalities in over
80 countries, the company serves the upstream oil and gas industry
throughout the lifecycle of the reservoir - from locating
hydrocarbons and managing geological data, to drilling and
formation evaluation, well construction and completion, and
optimizing production through the life of the field. Visit the
company’s website at www.halliburton.com. Connect with Halliburton
on Facebook, Twitter, LinkedIn, Oilpro, and YouTube.
About Baker Hughes
Baker Hughes is a leading supplier of oilfield services,
products, technology and systems to the worldwide oil and natural
gas industry. The company's 61,000-plus employees today work in
more than 80 countries helping customers find, evaluate, drill,
produce, transport and process hydrocarbon resources. For more
information about Baker Hughes, visit: www.bakerhughes.com.
Additional Information
This communication does not constitute an offer to buy or sell
or the solicitation of an offer to buy or sell any securities or a
solicitation of any vote or approval. This communication relates to
a proposed business combination between Halliburton and Baker
Hughes. In connection with this proposed business combination, on
February 6, 2015, Halliburton filed with the SEC an amendment to
the registration statement on Form S-4 that was originally filed on
December 19, 2014, containing a preliminary joint proxy
statement/prospectus of Halliburton and Baker Hughes and other
documents related to the proposed transaction. The registration
statement has not yet become effective. After the registration
statement is declared effective by the SEC, Halliburton and Baker
Hughes will each file with the SEC a definitive proxy
statement/prospectus, and each of Halliburton and Baker Hughes will
file other documents with respect to the proposed acquisition of
Baker Hughes and a definitive proxy statement/prospectus will be
mailed to stockholders of Halliburton and Baker Hughes. INVESTORS
AND SECURITY HOLDERS OF HALLIBURTON AND BAKER HUGHES ARE URGED TO
READ THE JOINT PROXY STATEMENT/PROSPECTUS AND OTHER DOCUMENTS THAT
MAY BE FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY BECAUSE
THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED
TRANSACTION. Investors and security holders may obtain free copies
of these documents (if and when available) and other documents
filed with the SEC by Halliburton and/or Baker Hughes through the
website maintained by the SEC at http://www.sec.gov. Copies of the
documents filed with the SEC by Halliburton will be available free
of charge on Halliburton’s internet website at
http://www.halliburton.com or by contacting Halliburton’s Investor
Relations Department by email at investors@Halliburton.com or by
phone at +1-281-871-2688. Copies of the documents filed with the
SEC by Baker Hughes will be available free of charge on Baker
Hughes’ internet website at http://www.bakerhughes.com or by
contacting Baker Hughes’ Investor Relations Department by email at
trey.clark@bakerhughes.com or alondra.oteyza@bakerhughes.com or by
phone at +1-713-439-8039 or +1-713-439-8822.
Participants in Solicitation
Halliburton, Baker Hughes, their respective directors and
certain of their respective executive officers may be considered
participants in the solicitation of proxies in connection with the
proposed transaction. Information about the directors and executive
officers of Halliburton is set forth in its Annual Report on Form
10-K for the year ended December 31, 2013, which was filed with the
SEC on February 7, 2014, its proxy statement for its 2014 annual
meeting of stockholders, which was filed with the SEC on April 8,
2014, its Quarterly Report on Form 10-Q for the quarter ended
September 30, 2014, which was filed with the SEC on October 24,
2014, and its Current Reports on Form 8-K filed with the SEC on
July 21, 2014 and December 9, 2014. Information about the directors
and executive officers of Baker Hughes is set forth in its Annual
Report on Form 10-K for the year ended December 31, 2013, which was
filed with the SEC on February 12, 2014, its proxy statement for
its 2014 annual meeting of stockholders, which was filed with the
SEC on March 5, 2014, its Quarterly Report on Form 10-Q for the
quarter ended September 30, 2014, which was filed with the SEC on
October 21, 2014, and its Current Reports on Form 8-K filed with
the SEC on June 10, 2014, September 10, 2014 and December 10, 2014.
These documents can be obtained free of charge from the sources
indicated above. Additional information regarding the participants
in the proxy solicitations and a description of their direct and
indirect interests, by security holdings or otherwise, will be
contained in the definitive proxy statement/prospectus and other
relevant materials to be filed with the SEC when they become
available.
For
HalliburtonInvestors:Kelly Youngblood,
281-871-2688Halliburton, Investor
RelationsInvestors@Halliburton.comorMedia:Emily Mir,
281-871-2601Halliburton, Public
RelationsPR@Halliburton.comorFor Baker
HughesInvestors:Trey Clark, 713-439-8039Baker
Hughes, Investor Relationstrey.clark@bakerhughes.comorAlondra
Oteyza, 713-439-8822Baker Hughes, Investor
Relationsalondra.oteyza@bakerhughes.comorMedia:Melanie
Kania, 713-439-8303Baker Hughes, Media Relations
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