Merger Update: Baker Hughes/Akastor

RNS Announcement

RNS Number : 1395C

Competition and Markets Authority

18 June 2021

Start of CMA Merger Investigation: The CMA is investigating the anticipated joint venture between Baker Hughes Holdings LLC and Akastor ASA

The Competition and Markets Authority (CMA) is considering whether it is or may be the case that this transaction, if carried into effect, will result in the creation of a relevant merger situation under the merger provisions of the Enterprise Act 2002 and, if so, whether the creation of that situation may be expected to result in a substantial lessening of competition within any market or markets in the United Kingdom for goods or services.

The CMA announced the launch of its merger inquiry by notice to the Parties on 18 June 2021 and has a deadline of 13 August 2021 for its phase 1 decision.

For Publicity:

TITLE OF MERGER: ANTICIPATED JOINT VENTURE BETWEEN BAKER HUGHES HOLDINGS LLC AND AKASTOR ASA

Case Ref: ME/6929/21

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RNS metadata

Title: Merger Update: Baker Hughes/Akastor
Time: 07:00:03
Date: 18 Jun 2021
Category: Acquisitions and alliances
ID: 1395C