Halliburton Co.’s proposal to purchase oil-services rival Baker Hughes Inc. may soon be hit with new opposition from European Union regulators who are expressing concerns about how the merger of the two Houston-based oil services giants could hurt competition throughout the EU.
The possible EU action would be carried out through a formal complaint. If filed by the EU regulators, the statement of objections issued by EU regulators would lay out concerns about how the merger would be anticompetitive. Back in January, the European Commission for Competition opened an in-depth investigation to assess whether the proposed acquisition of oil field service supplier Baker Hughes by Halliburton would impede effective competition and be in breach of the EU merger regulation.
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