Oilfield giants Halliburton and Baker Hughes are talking about joining forces as oil prices continue to fall. A merger between the industry’s two biggest companies could spark other deals, some are speculating.
In other M&A news, India’s Competition Commission has asked drugmaker Sun Pharmaceuticals to rework its proposed merger deal with Ranbaxy Laboratories. Regulators are concerned the deal (priced at $3.2 billion) could give the companies a stronghold on the pricing of generic drugs in India.
Nestle is reviewing its options to shed its frozen food unit Davigel. Earlier this year, it was reported the food and beverage company was looking to sell Davigel for about $373 million.
And lastly, the US Department of Energy will spend $425 million to install supercomputers at two labs - one in Tennessee and the other in Illinois. These supercomputers are 5 to 7 times faster than the best computer currently in use in the US.