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39

Halliburton To take Over Expro

Bloomberg News reports United States - based multinational company and the world's second - largest oilfield-services provider Halliburton Energy Services may offer to merge Expro International Group Plc to counter a 1.61 billion pounds, $3.2 billion, bid from Candover Partners Ltd

Bloomberg News reports United States – based multinational company and the world's second- largest oilfield-services provider Halliburton Energy Services may offer to merge Expro International Group Plc to counter a 1.61 billion pounds, $3.2 billion, bid from Candover Partners Ltd.

Expro rose as much as 3.8% in London trading as investors bet a bid will top the 1,435 pence a share offer accepted from the Candover group. Houston-based Halliburton is studying Expro's accounts, the people said, declining to be identified because the talks are confidential. The negotiations are still at an early stage, they said.

A takeover of Expro would allow Halliburton to compete with Schlumberger Ltd. Crude's 82% gain during the past 12 months has made seabed drilling more viable as producers seek to replace aging oil and gas fields.