FINWIRES · TerminalLIVE
FINWIRES

Baker Hughes, Chart Industries in Talks With European Commission Over Commitments Prior to Merger Approval

By

Baker Hughes (BKR) and Chart Industries (GTLS) confirmed that they are in talks with the European Commission over "possible commitments" for the Commission's approval of the companies' acquisition transaction, Chart

Industries said in a Monday filing.

The company plans to acquire Chart in a $13.6 billion transaction, with the latter to become an indirect, wholly owned Baker Hughes subsidiary upon closing.

The companies said the proposed commitments are not expected to have a material impact on the merger, but did not provide further details. The transaction is expected to close in July, they added.

Related Articles

Equities

Yanbu Cement Flags Higher Production Cost from Saudi Aramco's Fuel Products Price Adjustment

Yanbu Cement (SASE:3060) expects a 4% rise in production cost due to Saudi Arabian Oil Co. (SASE:2222), d/b/a Saudi Aramco's, adjustment of fuel products prices.The cement maker said that the financial impact was reflected in its first-quarter financial statements, according to a Sunday release. Yanbu Cement added that the impact was mitigated due to its participation in the industrial sector competitiveness program.

SASE:2222SASE:3060
Equities

Market Chatter: Adnoc Reportedly Launches Fourth Crude Oil Tender

Abu Dhabi National Oil Co., d/b/a Adnoc, launched its fourth tender for up to 2 million barrels of Upper Zakum, Umm Lulu, and Das crude for loading between June and August, Reuters reported Friday, citing trade sources.The bidding process will close on June 23, with offers remaining valid until June 25. The sources added that cargoes will be priced against the official selling prices, the Dubai benchmark, or other benchmarks.Adnoc did not immediately respond to a request for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

^FADGI
Equities

Bernstein Maintains Arabian Drilling at Outperform, Raises PT

Bernstein on Friday raised the price target for oilfield services company Arabian Drilling Co. (SASE:2381) to 115.44 Saudi riyals from 109.30 riyals, while keeping its outperform rating.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

SASE:2381