US: GE to pay DoJ over delayed Baker Hughes divestiture

US: GE to pay DoJ over delayed Baker Hughes divestiture

The US Department of Justice has announced that General Electric has agreed to make incentive payments beginning in 2018 until the energy giant completes the worldwide divestiture of its Water & Process Technologies business. GE agreed to divest GE Water to resolve the Department’s competitive concerns with GE’s acquisition of Baker Hughes Incorporated. As part […]

EU: EC signs off Baker $3.4 billion merger with GE

EU: EC signs off Baker $3.4 billion merger with GE

General Electric on Wednesday secured unconditional approval from the European Union to combine its oil and gas business with Baker Hughes after the bloc’s competition authorities found the transaction wouldn’t harm competition in Europe. Announced last October, the GE and Baker Hughes combination would create a company with more than $32 billion in revenue that […]

EU: GE faces probe for misleading over $1.7 billion deal

EU: GE faces probe for misleading over $1.7 billion deal

General Electric said on Monday that the European Union’s competition watchdog is investigating whether the industrial conglomerate provided misleading information during a merger review. “On March 9, 2017, the European Commission notified us that they were opening a proceeding to evaluate possible infringements by the company in their submissions regarding the LM Wind Power transaction,” […]

EU: GE gets greenlight for LM Wind Power $1.65bn deal

EU: GE gets greenlight for LM Wind Power $1.65bn deal

General Electric’s $1.65bn purchase of Denmark’s LM Wind Power was unconditionally approved Monday by Brussels. After an initial investigation, the antitrust watchdog concluded the deal would not significantly reduce competition in Europe in neither the upstream market for blades for wind turbines nor the downstream market for the offshore and onshore wind turbines. LM Wind […]

US: GE sells water unit in $3.4 bn deal to smooth oil merger

US: GE sells water unit in $3.4 bn deal to smooth oil merger

General Electric agreed to sell its water unit in a $3.4 billion deal, putting the industrial giant a step closer to the planned merger of its oil division with Baker Hughes. The all-cash sale to French utility Suez and a Canadian pension fund manager comes about four months after GE put the water unit on […]

US: GE, Baker Hughes asked for more information

US: GE, Baker Hughes asked for more information

The US Justice Department is seeking additional information from General Electric and Baker Hughes over the pending merger to create an oil and gas behemoth. The department’s actions extend the waiting period related to the regulatory review until 30 days after the companies comply, GE and Baker Hughes said Monday in a statement. The deal, […]

State Created Barriers to Exit: The Example of the Acquisition of Alstom by General Electric

Nicolas Petit, March 20, 2016 This paper seeks to understand the competitive impact of State restrictions to M&A transactions that target domestic corporations. In the economic literature, a rich body of papers has examined the impact of State restrictions in terms of market access, international trade and FDI. In contrast, the consequences of State restrictions […]

The Use of Empirical Techniques in European Commission Merger Cases

Jan Peter van der Veer, Mar 14, 2011 In recent years, there has been a trend towards a more systematic use of detailed empirical analysis in the assessment of merger cases by the European Commission. This trend owes its roots to the Court of First Instance’s judgments in the Airtours/First Choice, Tetra Laval/Sidel, and General […]