- European Competition Practice
- How we can help
- Staff Profiles
- Our econometrics team
- Academic associates profiles
- Past Clients
- News and Publications
- Events and Presentations
- Contact us
On 26 July 2010 the European Commission approved the acquisition of Smith International by Schlumberger without conditions, after a Phase I investigation. Both companies provide oilfield services.
The Commission examined the effects of the acquisition in the markets for directional drilling services; the supply of drill bits; and the supply of completion products and services. Its investigation found that the combined firm would continue to face strong, effective competitors and that the horizontal overlaps between the two parties are limited. The Commission therefore concluded that the transaction would not give rise to competition concerns.
See the Commission's press release for further details.