Halliburton to Split Into 2 Units by Midyear
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Associated Press
Energy-services giant Halliburton Co. will break into two independent subsidiaries by midyear, a move that will mean some layoffs, Chief Executive David Lesar told workers in an e-mail message.
Lesar said the changes were designed to make it easier for investors to understand the company’s business and to stop the slide in Halliburton stock because of asbestos liability.
Shares of Dallas-based Halliburton rose 32 cents to $16.92 on the NYSE.
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