NewsHedge Alert: 12:52:48pm Ticker: BHI
Alert Price: $50.99 Change: + 4.43% by market close
Catalyst: (news) Baker Hughes (BHI) will likely see the deal to sell itself to Halliburton (HAL) close in 2016 as opposed to this year, Reuters reported, citing acting CFO Christian Garcia as saying.
Reuters said the delay in the closing is due to ongoing talks with U.S. regulators. Garcia did say both companies are confident the deal will gain regulatory approval. Garcia noted Halliburton is finalizing talks with buyers for the drilling business, which is the first of the announced assets it is divesting to get the deal to go through.