ValueAct Capital notes that Halliburton (HAL) will do “whatever is necessary” to get antitrust approval on its Baker Hughes (BHI) purchase.
ValueAct owns a sizable stake in both companies. It feels confident that the deal is on track.
In ValueAct’s 3Q investor letter: “In our conversations with Halliburton’s management team, it is clear that they remain committed to doing whatever is necessary to close the deal. They are far along in the process to divest multiple duplicative business lines and will offer up additional divestitures if necessary.”
The deal is still a bit off, where Haliburton still has to seek EU approval. But the spread on Baker Hughes’ shares are enticing here.
