![](https://www.pymnts.com/wp-content/uploads/2017/08/wood_group_logo_detail.jpg)
Regulators are considering proposals by energy services firms Wood Group and Amec Foster Wheeler to address competition concerns over their planned £2.2bn (US$2.8 billion) merger. The firms have agreed to sell a range of assets to ease the path of the deal.
The move comes after the Competition and Markets Authority (CMA) found the merger could curb competition in the supply of services to the UK oil industry. It told the firms to offer a remedy or face an in-depth investigation.
The CMA said on Tuesday it considered there were “reasonable grounds” for believing that the proposal — or a modified version of it — “might be acceptable”.
The proposals would see Amec Foster Wheeler sell off “almost all” assets which contribute to engineering, construction and maintenance services in its upstream offshore oil and gas business in the UK.
Full Content: Financial Times
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Geradin Partners Expands Paris Office with Key Hire
Aug 30, 2024 by
CPI
Judge Accuses Google of ‘Clear Abuse’ in Antitrust Case Over Deleted Employee Chats
Aug 29, 2024 by
CPI
Hong Kong Cleaning Company Employee Charged in Historic Antitrust Investigation Case
Aug 29, 2024 by
CPI
Inside the Yelp Suit: Allegations of Google’s Abuse of Search Power
Aug 29, 2024 by
CPI
AI Safety Bill Clears Hurdle in California, Heads to Governor’s Desk
Aug 29, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – State Attorneys General
Aug 22, 2024 by
CPI
CPI Talks… …With Attorney General Phil Weiser
Aug 22, 2024 by
CPI
The Bipartisan Miracle of State Antitrust Enforcement
Aug 22, 2024 by
Gwendolyn J. Lindsay Cooley
Recent Developments in State Antitrust Enforcement: Agriculture and Food Markets
Aug 22, 2024 by
Elizabeth R. Odette
State Attorneys General: Stewards of Consumer Health and Welfare
Aug 22, 2024 by
Brooke Howlett Lovrovich