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Schlumberger (NYSE: SLB)

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By Buying Baker Hughes, Halliburton Aims To Dominate US Fracking

Halliburton Co.’s purchase of Baker Hughes for about $35 billion is designed to cuts costs for the combined companies and help them dominate hydraulic fracturing in North America. It also could make the new Halliburton surpass Schlumberger Ltd. as the global market leader in oilfield services.