Press release | June 27 2016
FMC Technologies and Technip Announce Successful Early Conclusion of U.S. Antitrust Review HOUSTON and PARIS, June 27, 2016 /PRNewswire/ -- FMC Technologies, Inc. (NYSE: FTI) and Technip (Euronext: TEC) today announced that the pending merger transaction between the companies has received an early decision from the United States antitrust regulators under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (HSR Act), concluding antitrust review of the transaction in the U.S. under the HSR Act.
As previously announced on May 19, 2016, FMC Technologies and Technip will combine to create a global leader that will drive change by redefining the production and transformation of oil and gas. On June 16, 2016, the companies announced that they had executed a Business Combination Agreement regarding their proposed merger. Conclusion of antitrust review in the United States under the HSR Act satisfies one of the closing conditions of the pending transaction, which remains subject to other closing conditions, including approval of Technip and FMC Technologiesshareholders, the conclusion of antitrust review in other countries, other regulatory approvals and consents, as well as other customary closing conditions. The transaction is expected to close early in 2017, subject to the satisfaction of these other closing conditions.
About FMC Technologies
FMC Technologies, Inc. (NYSE: FTI) is the global market leader in subsea systems and a leading provider of technologies and services to the oil and gas industry. We help our customers overcome their most difficult challenges, such as improving shale and subsea infrastructures and operations to reduce cost, maintain uptime, and maximize oil and gas recovery. The company has approximately 16,500 employees and operates 29 major production facilities and services bases in 18 countries. Visit www.fmctechnologies.com or follow us on Twitter @FMC_Tech for more information.
About Technip
Technip is a world leader in project management, engineering and construction for the energy industry. From the deepest Subsea oil & gas developments to the largest and most complex Offshore and Onshore infrastructures, our 32,500 people are constantly offering the best solutions and most innovative technologies to meet the worlds energy challenges. Present in 45 countries, Technip has state-of-the-art industrial assets on all continents and operates a fleet of specialized vessels for pipeline installation and subsea construction. Technip shares are listed on the Euronext Parisexchange, and its ADR is traded in the US on the OTCQX marketplace as an American Depositary Receipt (OTCQX:TKPPY). Visit us atwww.technip.com
Important Information for Investors and Securityholders
Forward-Looking Statements
This communication contains forward-looking statements. All statements other than statements of historical fact contained in this report are forward-looking statements within the meaning of Section 27A of the United States Securities Act of 1933, as amended (the Securities Act), and Section 21E of the United States Securities Exchange Act of 1934, as amended (the Exchange Act). Forward-looking statements usually relate to future events and anticipated revenues, earnings, cash flows or other aspects of our operations or operating results. Forward-looking statements are often identified by the words believe, expect, anticipate, plan, intend, foresee, should, would, could, may, estimate, outlook and similar expressions, including the negative thereof. The absence of these words, however, does not mean that the statements are not forward-looking. These forward-looking statements are based on our current expectations, beliefs and assumptions concerning future developments and business conditions and their potential effect on us. While management believes that these forward-looking statements are reasonable as and when made, there can be no assurance that future developments affecting us will be those that we anticipate.
Factors that could cause actual results to differ materially from those in the forward-looking statements include failure to obtain applicable regulatory or stockholder approvals in a timely manner or otherwise; failure to satisfy other closing conditions to the proposed transactions; failure to obtain favorable opinions from counsel for each company to the effect of how FMC Technologies SIS Limited (to be renamed TechnipFMC plc) (TechnipFMC) should be treated for U.S. tax purposes as a result of the proposed transaction; risks associated with tax liabilities, or changes in U.S. federal or international tax laws or interpretations to which they are subject, including the risk that the Internal Revenue Service disagrees that TechnipFMC is a foreign corporation for U.S. federal tax purposes; risks that the new businesses will not be integrated successfully or that the combined companies will not realize estimated cost savings, value of certain tax assets, synergies and growth or that such benefits may take longer to realize than expected; failure to realize anticipated benefits of the combined operations; risks relating to unanticipated costs of integration; reductions in client spending or a slowdown in client payments; unanticipated changes relating to competitive factors in the companies industries; ability to hire and retain key personnel; ability to successfully integrate the companies businesses; the potential impact of announcement or consummation of the proposed transaction on relationships with third parties, including clients, employees and competitors; ability to attract new clients and retain existing clients in the manner anticipated; reliance on and integration of information technology systems; changes in legislation or governmental regulations affecting the companies; international, national or local economic, social
Most recent headlines
02/01/2025
With more than 640 million users and more than 250 million subscribers, Spotify ...
02/01/2025
NextGen TV, aka ATSC 3.0, continued to advance in 2024, with some notable developments and renewed hopes that a deregulatory-minded Federal Communications Commi...
02/01/2025
Artificial intelligence is undoubtedly the hottest topic in the tech industry today, displaying all the excitement, apprehension and hype of the early days of t...
02/01/2025
STAMFORD, Conn. NBC Sports said 2024 was its best year in terms of ratings since 2016. Its success was fueled by the Paris Summer Olympics as well as its NFL co...
02/01/2025
MSG Networks has been dropped from Altice USA's Optimum-branded pay TV offerings after the operator and the regional sports provider were unable to reach a ...
02/01/2025
How color film and analog color TV works with bluescreen / chromakey
Graham Quince January 2, 2025
0 Comments
A deep dive into VFX History looking at ...
02/01/2025
Hulu Series Interior Chinatown Graded with DaVinci Resolve Studio
Brie Clayton January 2, 2025
0 Comments
Colorist Aidan Stanford delivers complex gra...
02/01/2025
Bulk Font Replacement in Premiere Pro
Andy Ford January 2, 2025
0 Comments
If you want to change the font of multiple text layers in Premiere Pro, the...
02/01/2025
Streaming media's impact on the media and entertainment industry continued to widen in 2024, as more sports rights moved to streaming platforms and the rapi...
02/01/2025
ATLANTA The board of directors for Gray Television Inc. has unanimously voted to change the company's name to Gray Media, Inc. effective Jan. 1....
02/01/2025
Official television and film archives exist to preserve the history and creativity of media. But even these formal institutions do not contain everything that h...
02/01/2025
Welsh succeeds Renard Jenkins, who has reached the end of his two-year tenure in the role
By Jenny Priestley
Published: January 2, 2025
Welsh succeeds Ren...
02/01/2025
Creator Economy Isn't Really Like Film/Show Entertainment
Andy Marken January 1, 2025
0 Comments
Come on Barry, you're good at this sort of s...
02/01/2025
Blackmagic Design Announces New Lower Price for Blackmagic Pocket Cinema Camera ...
02/01/2025
Hollywood Lighting Hacks: Big Looks, Tiny Budget
Sean Alami January 1, 2025
0 Comments
Discover how to create stunning Hollywood-style lighting using ...
02/01/2025
PDC World Darts Championship: Sky Sports on the oche for the Nuke's' re...
02/01/2025
PGA TOUR's Mike Raimondo on the Highlights and Impact of the PGA's New C...
02/01/2025
SVG Year in Review - Audio Edition: More Music, More Mergers, Fewer A1s Spectrum, sports betting, AI are other factors in sound for both broadcast and streaming...
02/01/2025
SVG Year in Review: Our Most Read Stories, A Look Back at Paris 2024, and the Bi...
02/01/2025
Comscore Appoints New Chief Marketing Officer Measurement innovator taps TV, streaming and digital ad veteran Jackelyn Keller for brand and product marketing e...
02/01/2025
A fresh start to 2025 with new faces, familiar voices and plenty of Irish music ...
02/01/2025
GeForce NOW is kicking off 2025 by delivering 14 games to the cloud this month, with two available to stream this week so members can get started on their New Y...
01/01/2025
Marcy Lefkovitz, Dalet SVP product innovation, details the findings of the companys report into the future of newsrooms, including leveraging AI, optimising mul...
01/01/2025
PGA TOUR Centers Media Operations in Transformative New Studio Fully integrated ST 2110 facility enhances production for fans domestic and international By Ken...
31/12/2024
Rashad Frett shares a moment with Michelle Satter at the 2023 Directors Lab. Pho...
31/12/2024
What's Ahead in 2025? OWC's Larry O'Connor Offers Some Bold Predicti...
31/12/2024
Blackmagic Design Announces New Features for Blackmagic Cloud
Brie Clayton December 31, 2024
0 Comments
New thumbnail icon view, clip metadata inspect...
31/12/2024
5 Features in DaVinci Resolve You're Not Using (But You Should Be)
Kasia Jarco December 31, 2024
0 Comments
In this video we are going to talk abo...
31/12/2024
Back to All News
NFL Christmas Day Games on Netflix Average Over 30 Million Global Viewers
Entertainment
31 December 2024
Global
Link copied to clipboard
...
31/12/2024
Back to All News
Squid Game' Season 2 Smashes Top 10 Records as Millions W...
30/12/2024
Leaving Thomson after 21 years, former Managing Director David Quin reflects on a career spent navigating the shifting sands of global media development. From r...
30/12/2024
[Pictured: a still from Love Lies Bleeding, one of the 100 Sundance-supported titles that opened to wider audiences in 2024]...
30/12/2024
Digital Domain Creates Groundbreaking VFX for Venom: The Last Dance, Bringing ...
30/12/2024
Internet Giant GMP Builds Tokyo Virtual Event Space with URSA Broadcast G2
Brie Clayton December 30, 2024
0 Comments
Blackmagic URSA Broadcast G2 and ...
30/12/2024
Renderboxes launches Photon, a no-compromise transportable high-performance work...
30/12/2024
Shinobi II Monitor Supports Canon, Sony, Nikon - Touch to Focus with New Feature...
30/12/2024
30 Dec 2024
In a Groundbreaking Agreement, VEON and Starlink to Bring Starlink ...
30/12/2024
The pace of technology innovation has accelerated in the past year, most dramati...
29/12/2024
Gyeongnam Culture and Arts Foundation (GCAF), an active promotor of cultural and artistic diversity, has chosen Ikegami UHK-X700 camera chains for integration i...
27/12/2024
After starting 2024 with hopes that the transition to streaming might finally produce a more stable, profitable businesses, the media and entertainment industry...
27/12/2024
Broadcasters ended the year with hopes and fears about how the federal government will regulate the TV industry in 2025. While the incoming Trump administration...
27/12/2024
NVIDIA's AI Podcast gives listeners the inside scoop on the ways AI is transforming nearly every industry. Since the show's debut in 2016, it's gar...
26/12/2024
Talking about artificial intelligence in 2024 is akin to talking about the internet in 1994 everyone's excited about it and thinks it will have an enormous ...
26/12/2024
Back to All News
Netflix NFL Christmas Gameday Reaches 65 Million US Viewers
Entertainment
26 December 2024
GlobalUnited States
Link copied to clipboard
U...
26/12/2024
Back to All News
Check Out All the Must-See Trailers From Netflix's NFL Chr...
26/12/2024
Back to All News
Beyonc Delivers Epic Gift of a Halftime Performance "Beyonc...
26/12/2024
Back to All News
Get in the Game With Squid Game' Season 2 Complete Coverage Guide
Entertainment
26 December 2024
Global
Link copied to clipboard
Are...
26/12/2024
This GFN Thursday wraps up another incredible year for cloud gaming. Take a look back at the top games and new features that made 2024 a standout for GeForce NO...
24/12/2024
The National Film and Video Foundation (NFVF) is calling for applications from South African film and television filmmakers to be part of the NFVF's delegat...
Press release | June 27 2016 
