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Monday
Nov172014

Halliburton's Dave Lesar was ready to go hostile in takeover bid of rival Baker Hughes

 Halliburton's Dave Lesar posed for me in 2007. Photo ©2007-F. Carter Smith

News reports have surfaced that the deal was just consummated for $34.6B dollars. Lesar also stated that recent low gasoline prices are short-lived.

During his 14 years leading Halliburton Co. , Chief Executive Dave Lesar has faced down criticism over some big issues.

The company’s no-bid contract to provide logistical support for the U.S. military in Iraq, for example. A Foreign Corrupt Practices Act investigation into construction work in Nigeria. Halliburton’s work on the Deepwater Horizon drilling rig before it exploded in 2010. And, most recently, Halliburton’s role as a leader in hydraulic fracturing, which has come under fire from many environmental groups.

Now Mr. Lesar, 61 years old, is facing criticism over his hostile bid to take over Baker Hughes Inc . The smaller oil-field services rival, in an email to Mr. Lesar, described Halliburton’s actions as intransigent and inappropriate.

Baker Hughes didn’t release any responses Halliburton might have written, and a A Halliburton spokeswoman declined to comment. (WSJ)

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