Jefferies Downgrades Baker Hughes (BHI) Two-Notches to Underperform

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Halliburton and Baker Hughes to Contest Justice Department Action

April 6, 2016 9:56 AM EDT

HOUSTON--(BUSINESS WIRE)-- Halliburton Company (NYSE: HAL) and Baker Hughes Incorporated (NYSE: BHI) today announced that the companies intend to vigorously contest the U.S. Department of Justice's (DOJ) effort to block their pending merger. The companies believe that the DOJ has reached the wrong conclusion in its assessment of the transaction and that its action is counterproductive, especially in the context of the challenges the U.S. and global energy industry are currently experiencing.

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