General Electric (GE) is in advanced discussions regarding buying Halliburton’s (HAL) drill-bits and drilling-services segments and is looking at bids for other assets Halliburton wants to sell, Bloomberg reported on Wednesday, citing people familiar with the matter.
The divisions are being sold because Halliburton is seeking to resolve antitrust issues for its Baker Hughes (BHI) takeover, according to Bloomberg. The other assets it may sell include parts of the completions operations of Baker Hughes.
GE was up 0.9% recently, in a 52-week range of $19.37 to $30.99. HAL rallied 4.2% on volume of 13.8 million, compared with the three-month average of 11.6 million. BHI was up 6.8%.