Where have I seen this before? If you have not heard by now, Halliburton (NYSE:HAL) is reportedly close to reaching a deal to acquire Norwegian oil services company Aker Solutions or its key subsea unit. This would be a sizable purchase. Now I know what it reminds me of. It reminds me of the drama surrounding the company’s attempt to purchase Baker Hughes (NYSE:BHI) last year. Ok in fairness, these are two very different companies and the Baker Hughes transaction faced tremendous regulatory scrutiny. In the end, Halliburton ended up simply burning billions of dollars in the failed attempt. Of course, there is an approval process for this possible purchase with Aker, but won’t be anywhere near what the company went through with BHI. It as in interesting time to pursues deals with a bearish oil market and fear spreading.

The difference with this transaction is that Aker isn’t a massive multi-billion dollar conglomerate that is a powerhouse in the industry. However, Aker is wholly state owned by Norway. The deal will go through. In fact the negotiations with Halliburton for the sale of all or part of Aker Solutions has been going on for a while time, and according to the report, “a deal is ready to be signed.” Of course, Aker will not confirm anything, but indicated that the investment company regularly speaks to other companies about “ideas and opportunities.”

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