December 15, 2015 / 8:44 PM / 2 years ago

U.S. regulators seek more concessions to OK Halliburton-Baker Hughes deal

(Reuters) - Halliburton Co (HAL.N) and Baker Hughes Inc BHI.N said U.S. antitrust officials were not satisfied with the concessions they offered to win approval for their proposed merger, and that officials said they would assess further proposals.

Various Halliburton equipment being stored at the equipment yard in Alvarado, Texas June 2, 2015. While giants like Halliburton, Baker Hughes and Schlumberger are weathering the slump by cutting tens of thousands of jobs, small- and medium-sized firms that make up at least half of the nearly $100 billion a year U.S. oil services industry that provides fracking sand and specialized chemicals for fracking have been hit far harder than their large, cash-rich rivals by the downturn, experts say. Picture taken on June 2, 2015. REUTERS/Cooper Neill - RTX1GZSL

The two oilfield service providers said it was unlikely they would be able to settle with the U.S. Department of Justice by Tuesday, the earliest closing date for the deal.

The two companies also extended the deadline for closing the proposed merger to April 30, 2016.

The earliest closing date for the deal, which would create the second-largest oilfield services company after Schlumberger Ltd (SLB.N), was extended to Dec. 15 after U.S. regulators requested more information from the companies.

Reporting by Shubhankar Chakravorty in Bengaluru; Editing by Savio D'Souza

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