European Commission extends review of Halliburton, Baker Hughes transaction

Offshore staff

HOUSTON – The European Commission has initiated a Phase II review of Halliburton’s pending acquisition of Baker Hughes.

This decision is a normal step in the commission’s review process, and the views expressed by the commission at this stage are preliminary only, Halliburton said. Pursuant to applicable regulations, Phase II generally provides the commission with 90 working days to review the pending transaction. Halliburton and Baker Hughes said they will continue to work constructively with the commission.

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. The company says it expects to offer a substantial remedies package that it believes will address any substantive competition concerns.

To date, the transaction has received regulatory clearances in Canada, Colombia, Ecuador, Kazakhstan, South Africa, and Turkey.



Share your news with Offshore at

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Making DDoS Mitigation Part of Your Incident Response Plan: Critical Steps and Best Practices

Like a new virulent strain of flu, the impact of a distributed denial of service (DDoS) attack is...

The Multi-Tax Challenge of Managing Excise Tax and Sales Tax

To be able to accurately calculate multiple tax types, companies must be prepared to continually ...

Operational Analytics in the Power Industry

Cloud computing, smart grids, and other technologies are changing transmission and distribution. ...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...