Updated 4:05 pm, Tuesday, April 5, 2016
HOUSTON — Regulators are preparing to file a lawsuit blocking the merger between Baker Hughes and Halliburton, according to a person familiar with the matter.
The antitrust lawsuit is the latest and most serious challenge to the marriage of the two oil field service companies, which was valued at $35 billion when it was announced just when prices began to fall in 2014. Since then, oil has slid lower and oilfield services companies have been among the hardest hit.
The combined Baker Hughes and Halliburton would be the second-largest oilfield services provider behind Schlumberger Ltd. Both Baker Hughes and Halliburton are based in Houston, and international Schlumberger Ltd runs its North American operations from the city.
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