Technip, FMC Shareholders Approve Merger; Fat Lady Sings in Jan?

fat-lady-singsIn May, U.S.-based oilfield services company FMC Technologies announced they will merge with their much larger quasi-competitor, France-based Technip, in an all-stock deal that will create a new company called TechnipFMC worth $13 billion (see FMC Technologies & Technip to Merge, Create $13B Oilfield Giant). FMC had/has some operations in the Marcellus/Utica, hence the merger has implications for our region. The Obama Dept. of Justice approved the deal in June (see FMC Technologies/Technip Merger Approved by Obama DOJ/FTC). Apparently it’s A.O.K. for a French company to buy an American company, but when one American company (Halliburton) wanted to buy another (Baker Hughes), that wasn’t OK with the Obamadroids (see Obama DOJ Kills Halliburton/Baker Hughes Merger, Deal “Terminated”). But we digress. The European Union, like the Obama DOJ, also gave its blessing on the deal. The shareholders for the two companies voted yesterday to consummate the marriage. The only thing left now is for the fat lady to sing, which appears will happen early in 2017 (likely January). The date of the official merger will be known on Dec. 21…

Please Login to view this content. (Not a member? Join Today!)