Europe clears acquisition of Baker Hughes by General ElectricStaff Writer | May 31, 2017
The European Commission has cleared unconditionally under the Merger Regulation the acquisition of Baker Hughes Incorporated by General Electric Company, both of the U.S.
Acquisition Oilfield services
Both companies are active in the provision of oilfield services to oil & gas exploration and production companies in the European Economic Area (EEA) and worldwide.
On a number of specific markets the two companies sell competing products. For other markets, GE is a supplier to Baker Hughes and its competitors.
The Commission found no competition concerns in relation to other markets where both are active - such as inline inspection services and permanent downhole gauges - or in relation to other vertical relationships.
The Commission thus concluded that the proposed transaction would not raise any competition concerns. ■