- Title:
Merger Update: Baker Hughes/Altus - Time:
14:00:01 - Date:
6 Dec 2022 - Category:
Acquisitions and alliances - ID:
7637I
CMA to look at undertakings offer in detail from Baker Hughes Nederland Holdings B.V. and Altus Intervention Group AS
Anticipated acquisition by Baker Hughes Nederland B.V. of Oz MidCo AS (Altus Intervention)
On 22 November 2022, the CMA announced that it is or may be the case that the above Merger has resulted or may be expected to result in a substantial lessening of competition within a market or markets in the United Kingdom.
On 29 November 2022, Baker Hughes Nederland Holdings B.V. and Altus Intervention Group AS offered undertakings to the CMA. The CMA has considered the undertakings offered and today announced that it considers that there are reasonable grounds for believing that the undertaking offered, or a modified version of it, might be accepted by the CMA to remedy the substantial lessening of competition identified by the CMA.
The CMA now has until 3 February 2023 to decide whether to accept the undertaking, with the possibility to extend this timeframe to 31 March 2023 if it considers there are special reasons for doing so.
The text of this decision will be placed on the Competition and Markets Authority's website at https://www.gov.uk/cma-cases as soon as is reasonably practical.
In the event of media enquiries please email [email protected].
Merger Update: Baker Hughes/Altus14:00:016 Dec 2022Acquisitions and alliances7637I