US Antitrust Review of pending FMC Technologies, Technip merger complete

The antitrust review of the pending merger between FMC Technologies Inc. (NYSE: FTI) and Technip (Euronext: TEC) from the United States antitrust regulators under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 is complete.

The merger agreement between the two companies was announced on May 19, 2016. On June 16, 2016, the companies announced that they had executed a Business Combination Agreement regarding their proposed merger.

Conclusion of antitrust review in the United States under the HSR Act satisfies one of the closing conditions of the pending transaction, which remains subject to other closing conditions, including approval of Technip and FMC Technologies shareholders, the conclusion of antitrust review in other countries, other regulatory approvals and consents, as well as other customary closing conditions.

The transaction is expected to close early in 2017, subject to the satisfaction of these other closing conditions.

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

Whitepapers

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Maximizing Operational Excellence

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

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...