For those who have missed it, Baker Hughes has accepted Halliburton's takeover offer, broached last week.
What's this mean?
First, Bloomberg suggests that, with oil prices slumping, it means other such deals could be around the corner. And, given that the two principles in this deal will likely have to do a fair amount of divestment, those pieces could be part of any new deals.
Second, what is this saying about future oil prices? Biz Journals suggests they'll stabilize around current levels, while Bloomberg suggests Baker Hughes' acquiesence in the takeover means it was worried prices would sag more.
Third, what's that mean internationally? The Saudis have trimmed production a bit; will they cut more? And, as Russia-Ukraine noise continues, Putin surely can't like even the idea of oil prices stabilizing in the mid-80s, let alone sagging more.
Fourth, it means that oil fracking probably will face a quite year or so ahead. Until the deal is finalized, as well as until more certainty appears in oil futures for the next year or so, domestic drillers will easy off.
Fifth, it may mean more bad fracking jobs. A bigger company, with the desire to cut costs to pay for a takeover, etc., will be cutting corners, too.