Halliburton, Baker Hughes To Market For Sale Additional Businesses - Quick Facts

(RTTNews) - Oilfield services providers Halliburton Co. (HAL) and Baker Hughes Inc. (BHI) Monday said they would market for sale additional businesses in connection with Halliburton's pending acquisition of Baker Hughes.

The additional businesses intended to be divested include Halliburton's expandable liner hangers business, which is part of the company's Completion & Production Division; Baker Hughes' core completions business, which includes: packers, flow control tools, subsurface safety systems, intelligent well systems, permanent monitoring, sand control tools and sand control screens.

The Baker Hughes sand control business in the Gulf of Mexico, including two pressure pumping vessels; and Baker Hughes' offshore cementing businesses in Australia, Brazil, the Gulf of Mexico, Norway, and the United Kingdom are also planned to be divested.

The divestitures process for the previously announced divestitures of Halliburton's Fixed Cutter and Roller Cone Drill Bits, Directional Drilling and Logging-While-Drilling /Measurement-While-Drilling businesses is continuing. Halliburton has received proposals from multiple interested parties for each business.

The combined 2013 revenue associated with all of the businesses intended to be divested was around $5.2 billion.

Halliburton and Baker Hughes have also amended their timing agreement with the Antitrust Division of the U.S. Department of Justice to extend the earliest closing date by three weeks, to the later of December 15, from the current date of November 25, or 30 days following the date on which both companies have certified final, substantial compliance with the DOJ second request.