EC launches Phase II investigation into Halliburton's Baker Hughes acquisition

• Autores: Kasia Patel
• Localización: Industrial Minerals, ISSN 0019-8544, Nº. 580, 2016 (Ejemplar dedicado a: Febrero)
• Idioma: inglés
• Texto completo no disponible (Saber más ...)
• Resumen

  • "In particular, the [preliminary] investigation revealed that Halliburton and Baker Hughes seem to be close competitors both in terms of tenders and in innovation," the EC outlined.

    "Although the Commission was kept informed of the remedies that Halliburton has proposed to the US Department of Justice, Halliburton did not offer remedies during Phase I, as it believes that offering remedies during Phase II will facilitate a more efficient review. Halliburton expects to offer a substantial remedies package that it believes will address any substantive competition concerns," the companies added.

    "Both companies strongly believe that the divestiture package, which recently was significantly enhanced to address the DOJ's specific competitive concerns, is more than sufficient to address concerns raised by competition authorities, including the DOJ," Baker Hughes and Halliburton said in a joint statement issued in December.