Companies crucial to energy exploration abandon $34B merger

WASHINGTON — Two companies crucial to the business of U.S. energy exploration have abandoned their planned $34 billion merger, the Justice Department said Sunday.

The department filed suit April 6 to block the merger of Halliburton and Baker Hughes. It claims the transaction would unlawfully eliminate significant competition in almost two dozen markets crucial to the exploration and production of oil and natural gas in the United States.

http://www.startribune.com/companies-crucial-to-energy-exploration-abandon-34b-merger/377756221/