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TechnipFMC merger receives positive decision from US antitrust regulators

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LNG Industry,

FMC Technologies Inc. has released a statement claiming that its merger with Technip has received an early decision from US antitrust regulators under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (HSR Act), concluding antitrust review of the merger.

The merger was previously announced on 19 May 2016. On 16 June, both companies confirmed that a business combination agreement had been executed.

The pending transaction still remains subject to other closing conditions, including approval from both companies’ shareholders, the finalisation of antitrust review in other countries, customary closing conditions, and other regulatory approvals and consents. FMC claims that, following the satisfaction of these closing conditions, the transaction should close in early 2017.

The new company – TechnipFMC – will base its operational headquarters in Paris, France, as well as Houston, Texas, and London, UK.

Edited from various sources by David Rowlands

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