Halliburton loss widens
USA Called off the following day, Halliburton was hit by a USD 3.5-billion termination fee. The company reportedly also spent close to USD 100 million in advisory fees to the international banks involved in the proposed merger. The full acquisition-related costs over the first quarter were reported at USD 378 million, an increase of almost USD 300 million over the last quarter of 2015.
Earlier in April, Halliburton announced a 40.5% drop in revenue to USD 4.2 billion and an additional round of job cuts that saw the company eliminate 6,000 positions during the first three months of 2016.
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