Seeking to block the pending $34.6 billion merger of oil giants Halliburton Co. and Baker Hughes Inc., the U.S. Department of Justice recently filed a civil antitrust lawsuit against both companies.
The continuing depressed oil and gas prices have driven a number of energy companies to look at mergers and acquisitions as a survival strategy to navigate in this new challenging economic landscape. The DOJ’s recent antitrust suit serves as a stern warning to other oil services companies contemplating possible megamergers that the U.S. government will take strong action to preserve healthy competition in the energy marketplace.
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