The European Commission has cleared unconditionally under the Merger
Regulation the acquisition of US company Baker Hughes Incorporated by US
giant General Electric.
The Commission said on June 1 that the EC concluded that the
transaction would not adversely affect competition in the relevant
markets.
In particular, the Commission investigated onshore electrical
submersible pumps used to pump fluids from the wells to the surface,
offshore electrical submersible pumps, and chemicals used in the
refining and petrochemicals industry. These are markets where the
products of both companies compete.
The Commission noted that the investigation also looked at a number
of markets on sensors used in drilling and wireline applications, where
GE supplies Baker Hughes and its competitors.
The Commission said the EC 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.
https://www.neweurope.eu/article/eu-clears-acquisition-baker-hughes-ge/