Oil and gas deal gets global clearance

Baker Hughes has obtained antitrust clearance for its acquisition of Altus Intervention. Both parties were active in well intervention services, including pipeline and processing services (PPS) and coiled tubing and pumping services, while Baker Hughes, through its subsidiary Sondex, supplied tools to downstream competitors in wireline. CRA supported the merging firms, including through (i) analysis of bidding data to show that the parties are not strong competitors, and (ii) assessing the scope and incentive for input foreclosure.

The CRA team led by Simon Chisholm and including Marissa Li, Kilian Müller and Aonghus Ó Cochláin, worked alongside the law firm Wilmer Cutler Pickering Hale and Dorr supporting the merging firms through pre-notification period and the clearance process across jurisdictions.