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Halliburton: One Step Closer

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Summary

  • Shareholder approved the merger of Halliburton and Baker Hughes.
  • Halliburton is moving forward with asset sales suggesting the U.S Justice Department is working towards a positive solution.
  • The new Halliburton still trades at an attractive valuation providing potential alpha for the sector with the ultimate return based on oil prices.
The recent shareholder approvals by Halliburton (NYSE:HAL) and Baker Hughes (NYSE:BHI) place the megadeal one step closer to completion. The current oil market weakness causing the onshore drilling rig count reductions continue to hide the shareholder benefits of this merger. Not to mention, the current downturn is allowing both firms to cut costs that could improve margins during the next market boom.

Read the full article on Seeking Alpha.


Disclosure: Long HIG. Please review the disclaimer page for more details. 




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