Equities
Baker Hughes' Merger with Chart Industries Gets Conditional EU Nod
The European Commission conditionally approved US-based oil and gas services company Baker Hughes' (68V.F) $13.6 billion acquisition of industrial process equipment manufacturer Chart Industries (I3N.F), according to a Friday release.To secure definitive approval from the EU regulator, the companies offered to divest Chart's proprietary process technology and small-scale process technology to an approved third-party buyer. The companies also pledged to ensure the interoperability of their equipment with third parties' LNG equipment.The obligations will run for 10 years.The regulator found that without the offered remedies, the merger would lead to reduced competition in the global markets for LNG liquefaction equipment and technologies.
^SXXP$68V.F$I3N.F
