Press Release: Mergers: Commission opens in-depth investigation into acquisition of oilfield service provider Baker Hughes by Halliburton

On 12 January 2016 European Commission opened an in-depth investigation to assess whether the proposed acquisition of oilfield service supplier Baker Hughes by rival Halliburton would impede effective competition in breach of the EU Merger Regulation.

According to Commissioner Margrethe Vestager, the Commission is concerned if the takeover could 'reduce choice or push up prices for oil and gas exploration and production services in the EU'.

The takeover would bring together the world's second and third largest oilfield service suppliers, thus eliminating one of the three current main global competitors (i.e. Halliburton, Baker Hughes and market leader Schlumberger).
The opening of an in-depth inquiry did not prejudge the final result of the investigation. The Commission had 90 working days, until 26 May 2016, to take a final decision.

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