REG - Competition and Mkts - Merger Update: Baker Hughes/Altus
06/12/2022 15:15
For best results when printing this announcement, please click on link below: http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20221206:nRSF7637Ia&default-theme=true RNS Number : 7637I Competition and Markets Authority 06 December 2022 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 (https://www.gov.uk/cma-cases) as soon as is reasonably practical. In the event of media enquiries please email Press@cma.gov.uk (mailto:Press@cma.gsi.gov.uk) . This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com (mailto:rns@lseg.com) or visit www.rns.com (http://www.rns.com/) . RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy) . END MERFSIFSMEESEDE