Baker Hugues: EU authorises takeover by General Electric.
(CercleFinance.com) - The European Commission has unconditionally cleared the acquisition of Baker Hughes Incorporated by General Electric Company.
The Commission concluded that the transaction would not adversely affect competition in the relevant markets.
“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.” The EC said.
“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.”
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