money.cnn.com – Huge merger in the oil patch NEW YORK (CNNMoney) As recently as Friday, merger talks between Halliburton and Baker Hughes weren’t going well. But now, we have a deal. Halliburton (HAL) said Monday it will spend $34.6 billion to acquire Baker Hughes (BHI). The deal between the second- and third-largest companies in the industry would form an energy giant with more than 136,000 employees. The merger comes as the price of crude oil plummets, pressuring profits at oil exploration companies.