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UK Competition Authority: OFT - Anticipated acquisition by Acergy of Subsea 7 - Invitation to comment

( September 27, 2010, 16:30 GMT | Official Statement) -- MLex Summary: The UK's competition regualtor, the Office of Fair Trading, has invited interested parties to submit comments on competition or public interest issues in respect of the anticipated acquisition by Norwegian seabed-to-surface engineering and construction company Acergy of rival company Subsea 7. The deadline for submission is 11 October 2010. The invitation follows an informal notification by the parties.The Office of Fair Trading is considering whether arrangements are in progress or in contemplation which, if carried into effect, will result in the creation of a relevant merger situation under the merger provisions of the Enterprise Act 2002. Should it be found to be a relevant merger situation, the OFT will further consider whether the creation of that situation may be expected to result in a substantial lessening of competition within any market or markets in the United Kingdom for goods or services that warrants reference to the Competition Commission for investigation and report....

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