Part 2/9:
Unpacking the breakup of the $35 billion deal between Halliburton and Baker Hughes, the conversation revealed an unexpected dynamic in the stock market. Despite Halliburton's shares rising by approximately 2-3%, Baker Hughes experienced a 2-3% decline following the announcement of the breakup fee. This contradiction puzzled the guests, as Baker Hughes was set to receive a substantial payout of $3.5 billion. Muckerman speculated that investors might view Baker Hughes as a troubled business and are hesitant to invest even after the payout.