Halliburton Co. and Baker Hughes Inc. will extend the time period to April 30 for closing their pending $26 billion merger as they work to satisfy Justice Department concerns.
The U.S. Justice Department told the world’s No. 2 and No. 3 oil service companies that officials aren’t satisfied with Halliburton’s proposals for clearing its purchase of Baker Hughes, but acknowledged that regulators would assess further proposals and look forward to continued cooperation from the parties in their continuing investigation, the companies said in a statement Tuesday.
Brazil Energy Insight 
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