The U.S. Justice Department plans to block Halliburton Co.'s (HAL) planned $35 billion purchase of Baker Hughes Inc. (BHI), Bloomberg News reported Tuesday, citing a person familiar with the matter.

According to the report, an offer to sell assets to resolve concerns about competition wasn't satisfactory to the Justice Department.

The Justice Department plans to file a lawsuit opposing the deal as soon as this week, Bloomberg reported.

Full story at http://www.bloomberg.com/news/articles/2016-04-05/halliburton-said-to-face-u-s-lawsuit-on-baker-hughes-deal

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(END) Dow Jones Newswires

April 05, 2016 14:41 ET (18:41 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.
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