Halliburton Buys Baker Hughes

Halliburton is buying its rival Baker Hughes for $34.6 billion. Talks had reportedly stalled, and Halliburton was preparing a hostile takeover bid. KATC reports an agreement was reached on a cash/ stock swap that has been unanimously approved by the boards of both companies. The announcement fueled a 16% increase in the value of Halliburton stock Monday morning.