Baker Hughes / Akastor merger inquiry

The CMA investigated the anticipated joint venture between Baker Hughes Holdings LLC and Akastor ASA that will merge Baker Hughes’ Subsea Drilling Systems business and Akastor’s wholly owned subsidiary MHWirth AS.

• From: Competition and Markets Authority
• Published: 18 June 2021
• Last updated: 6 December 2022 — See all updates

• Case type: Mergers
• Case state: Closed
• Market sector: Oil and gas refining and petrochemicals
• Outcome: Mergers - phase 1 found not to qualify
• Opened: 18 June 2021
• Closed: 6 August 2021

Statutory timetable

Phase 1	Action
6 August 2021	Decision published
3 August 2021	Decision announced
18 June 2021	Launch of merger inquiry
18 June 2021 to 2 July 2021	Invitation to comment

Phase 1

Found not to qualify decision

3 August 2021: The CMA has decided that the anticipated joint venture between Baker Hughes Holdings LLC and Akastor ASA does not qualify for investigation under the merger provisions of the Enterprise Act 2002.

• Full text decision (6.8.21)

Launch of merger inquiry

18 June 2021: The CMA announced the launch of its merger inquiry by notice to the parties.

• Commencement notice (18.6.21)

Invitation to comment: now closed

18 June 2021: The Competition and Markets Authority (CMA) is considering whether it is or may be the case that this transaction, if carried into effect, will result in the creation of a relevant merger situation under the merger provisions of the Enterprise Act 2002 and, if so, whether the creation of that situation may be expected to result in a substantial lessening of competition within any market or markets in the United Kingdom for goods or services.

To assist it with this assessment, the CMA invites comments on the transaction from any interested party.

These comments should be provided by the deadline set out above.

• Invitation to comment (18.6.21)

Contact

Please send written representations about any competition issues to general.enquiries@cma.gov.uk.

Published 18 June 2021
Last updated 6 December 2022 + show all updates

1. 6 December 2022

   Incorrect announcement was published on the wrong case page. Consideration of undertakings announcement has been removed and put on the correct page.

2. 6 December 2022

   Considering undertakings offered announcement published.

3. 6 August 2021

   Full text decision published.

4. 3 August 2021

   The CMA has announced a found not to qualify decision in this case.

5. 18 June 2021

   First published.