EU to Rule on Baker Hughes’ $13.6B Chart Industries Acquisition by June 26
Overview of the Baker Hughes and Chart Industries Deal
EU Antitrust Review Timeline
BRUSSELS, May 22 (Reuters) - EU antitrust regulators will decide by June 26 whether to clear oilfield services firm Baker Hughes' $13.6 billion acquisition of Chart Industries, according to a European Commission filing.
Strategic Rationale Behind the Acquisition
Expansion in Industrial Technology
Baker Hughes announced the deal in July last year to boost its presence in industrial technology servicing liquefied natural gas and data centres and also leverage its industrial and energy technology portfolio.
Regulatory Process and Possible Outcomes
Commission’s Review Options
The Commission, which acts as the EU competition enforcer, can either clear the deal with or without demanding concessions after the end of its preliminary review or it can open a full-scale investigation if it has serious concerns.
About Chart Industries
Global Operations and Product Portfolio
Manufacturing and Service Locations
Chart manufactures industrial equipment such as valves and measurement technology for gas and liquid molecule handling and operates 65 manufacturing locations with over 50 service centres globally.
(Reporting by Foo Yun Chee; Editing by Kirsten Donovan)
