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Halliburton to buy Baker Hughes in $35bn deal

19 Nov 2014
Halliburton is set to buy Baker Hughes for $35 billion in a cash and stock deal.

As the world’s second largest oilfield services provider, Halliburton hopes that the deal will put the company in a strong position to challenge the market leader, Schlumberger.

The combined company had 2013 revenues of $51.8 billion, operations in over 80 countries and a workforce of more than 136,000. With the new deal, the two companies are expected to save nearly $2 billion a year in costs.