Merger Update: Baker Hughes / Altus

Start of CMA Merger Investigation: ANTICIPATED ACQUISITION BY BAKER HUGHES NEDERLAND HOLDINGS B.V. OF Oz MidCo AS (Altus Intervention)

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 27 September 2022 and has a deadline of 22 November 2022 to announce its decision on whether to refer this transaction for an in-depth, Phase 2 review.