FMC Technologies Inc. and France’s Technip said June 27 that the pending merger transaction between the companies received an early decision from U.S. antitrust regulators under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (HSR Act), concluding antitrust review of the transaction in the U.S. under the act. The conclusion of antitrust review in the U.S. under the HSR Act satisfies one of the closing conditions of the pending transaction, which remains subject to other closing conditions, including approval of both companies’ shareholders and the conclusion of antitrust review in other countries. The transaction is expected to close early in 2017. On June 16, the companies said they had executed a business combination agreement regarding their proposed merger. The companies announced on May 19 that they would combine. Technip is a subsea systems provider and FMC is a management and engineering firm for the oil and gas industry.
Recommended Reading
TGS, SLB to Conduct Engagement Phase 5 in GoM
2024-02-05 - TGS and SLB’s seventh program within the joint venture involves the acquisition of 157 Outer Continental Shelf blocks.
Subsea Tieback Round-Up, 2026 and Beyond
2024-02-13 - The second in a two-part series, this report on subsea tiebacks looks at some of the projects around the world scheduled to come online in 2026 or later.
2023-2025 Subsea Tieback Round-Up
2024-02-06 - Here's a look at subsea tieback projects across the globe. The first in a two-part series, this report highlights some of the subsea tiebacks scheduled to be online by 2025.
StimStixx, Hunting Titan Partner on Well Perforation, Acidizing
2024-02-07 - The strategic partnership between StimStixx Technologies and Hunting Titan will increase well treatments and reduce costs, the companies said.
Tech Trends: QYSEA’s Artificially Intelligent Underwater Additions
2024-02-13 - Using their AI underwater image filtering algorithm, the QYSEA AI Diver Tracking allows the FIFISH ROV to identify a diver's movements and conducts real-time automatic analysis.