for what it's worth...it's my opinion BHI won't see the 3.5 billion of a couple of years, tops. This will be litigated in the courts long before HAL forks over a dime!
Carlyle group wants what GEOG wanted, yet HAL is not selling what both GEOG and Carlyle wants. HAL wants to keep BHI tools, Prod, PP, Completions and specialty Fluids such as Black Magic, Lattidrill and our SynTeq line. IF GEOG wouldn't buy what HAL is peddling, then why would Carlyle? The deal is dead!!
I believe that the only group who thought this deal would go through is HAL! Their only goal was to cripple BHI, however their scheme is backfiring as they will soon shell out 3.5 Billion to break the deal. Not only that but they continued to lose business in the field to BHI, even with depressed oil prices. Wall Street knew this from the beginning, they simply milked it for what it generated in stock prices. The deal is dead!! HAL is delaying earnings release so they can factor in the 3.5 Billion payout to BHI.
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strange stuff this morning, stock has huge earnings miss, but rallies with oil and there wasn't a trade the 1st 7 minutes after the open on a stock that averages 4-5million daily
the mkt has spoken...it no longer thinks the merger makes sense. Now sees it as having been a major distraction for both businesses....hence both stocks are now rallying in the belief that the deal is virtually dead.
The stock would be trading a lot higher if the odds were 50/50. Even if by some miracle they would win the lawsuit against the DOJ, the European Union was always going to be a tougher sale. You already have the major oil firms speaking out against the deal.
assuming HAL will fork over the $3.5 billion? If this merger fails, I guarantee both companies will be tied up in litigation for at least a couple of years before they settle. Hence, don't count on the $3.5 billion anytime soon.
They may make some acquisitions if the opportunity and price is right, but given the current environment they will most likely just use the cash to fund operations and maintain the current dividend. They are likely to report a loss the next several quarters though walking away from the merger would allow them to reduce costs further.
trying to recover a whopping lose on BHI. A mother Texas style loss.. Now BHI looks like a SHORT Here.
I love how Mellissa on CNBC said BHI goes up either way.Either walk from deal and get 3.5 B or deal closes.Again she said BHI goes up either way.