Why Does The EU Want More Info On Halliburton's Baker Hughes Buyout?

Halliburton Company (NYSE: HAL) and Baker Hughes Incorporated (NYSE: BHI) have been in buyout talks for quite some time now, and the road to a Baker Hughes buyout has not been smooth.

Once more, the European Union has stepped in and delayed the merger review for the proposed takeover.

Citing omitted data of importance, the European Commission comprised of European antitrust regulators, stated, "Once the missing information is supplied by the parties, the clock is re-started and the deadline for the Commission's decision is then adjusted accordingly."

Related Link: Halliburton-Baker Hughes Failed To Provide European Regulators With Requested Information

In January, Halliburton presented a set of divestitures outlining plans to sell combined 2013 revenue and asset to regulators, but has not yet provided a formal divestiture to the European Commission, according to Reuters. Due Diligence cannot be completed until that time.

In late February, Reuters reported that both companies had failed to provide regulators with requested information.

The remaining missing information is reportedly related to concerns from the EU competition authority "that the deal may reduce competition and innovation in more than 30 product markets, both onshore and offshore."

Previously, the process was delayed February 18 and restarted March 8 with a decision expected July 11.

At this point, no restart date has been provided.

At time of writing, Baker Hughes was down roughly 1 percent at $46.95. Halliburton was down 0.33 percent at $36.18.