Baker Hughes has obtained global 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. A team of CRA consultants 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 worked alongside Wilmer Hale in supporting the merging firms through pre-notification period and the clearance process across jurisdictions.
