Halliburton has stated its intention to divest as much as $7.5 billion in assets to ease antitrust concerns. According to initial reports in the media, there are at least seven overlapping business lines. Industry insiders expect the new entity to let go off at least three of those. On Tuesday, people close to the deal told Bloomberg Businessweek that Halliburton expects to sell only half of the $7.5 billion in assets it is committed to divest.
While the tie-up of the second- and third-biggest oilfield services companies in the world will create an entity that eclipses market leader Schlumberger in terms of revenue, it will take a backseat in terms of market capitalisation.
Upon the deal, energy analysts are expected to turn their attention to the Gulf of Mexico, where exploration companies rely heavily on the mentioned oilfield services companies. Increased pricing power on the part of the new entity could potentially put pressure on oil producers in that region.
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