Technip FMC Lack of “Overlap” should mean No Repeat of Halli-Baker Call Off

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20 May 2016

Analysts are confident Technip and FMC Technologies will do what larger oil service and equipment providers Halliburton and Baker Hughes ouldn’t – close a merger during the market downturn.

The $13 billion combination of US subsea-equipment supplier FMC with Paris-based Technip will deliver at least $400 million in annual pretax savings in 2019.

Industry peers Halliburton and Baker Hughes had also tried to join forces to weather the rout, but called off their planned merger this month amid resistance from regulators in the US and Europe over concerns about reduced competition.

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[source: Energy Voice]