EU Clears Acquisition Of Cameron By Schlumberger
BRUSSELS, Feb 5 (Reuters) - The European Union executive on Friday cleared the purchase of equipment maker Cameron International Corp by Schlumberger, the world's No.1 oilfield services provider.
Reuters exclusively reported in January that the deal would be waved through. This is the second-biggest tie-up in the energy services after Halliburton's proposed takeover for Baker Hughes of about $35 billion.
"The proposed acquisition would raise no competition concerns, given the very limited overlaps between the companies' activities and the modest increment in market shares brought about by the transaction," the European Commission said in a statement.
(Reporting by Gabriela Baczynska and Robert-Jan Bartunek)
WHAT DO YOU THINK?
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
- Top Oilfield Services Firms Signal Fourth-Quarter Uncertainty (Oct 20)
- Schlumberger's Latest Asset Deal Raises Fresh Concerns Ahead Of 3Q (Oct 19)
- Offshore Start-Up Borr Drilling Aims To Expand Fleet, Keep Costs Low (Aug 30)
Company: Cameron Corporation more info
- Keppel O&M Completes Acquisition of Cameron's Offshore Product Division (May 03)
- EU Clears Acquisition Of Cameron By Schlumberger (Feb 05)
- Cameron Stockholders Vote Yes to Schlumberger Merger (Dec 17)