Tesla Motors said it has won US antitrust approval to buy solar panel installer SolarCity Corp.
Halliburton Co.’s takeover of Baker Hughes Inc. is facing resistance from US enforcement officials who are concerned the tie-up could hurt competition, according to a person familiar with the matter. Justice Department lawyers reviewing the proposed $34.6 billion transaction are worried about consolidation in the industry from combining the No. 2 and No. 3 firms, said the person, who asked not to be identified because the review is confidential. Though Halliburton has proposed selling some assets to other companies, government officials aren’t convinced its plan would restore sufficient competition, the person said.
Baker Hughes and Halliburton have entered into a timing agreement with the antitrust division of the US DOJ (Department of Justice). It means the period for the DOJ’s review of the takeover will now be completed at the end of November, 90 days after both companies have certified compliance. A deal has also been reached between Baker Hughes and Halliburton to extend the time period for closing the acquisition to no later than December.