Proposed merger of Saipem, Subsea7 triggers Phase 2 review in Australia
( July 3, 2026, 02:18 GMT | Official Statement) -- MLex Summary: The proposed global merger of energy-services companies Saipem S.p.A and Subsea7 S.A has been referred to a Phase 2 in-depth review by the Australian competition regulator. In a statement on Friday, the Australian Competition & Consumer Commission said that both companies are key suppliers of engineering, construction and maintenance services to offshore Australian oil and gas producers, with each operating a fleet of pipelaying and other vessels to provide these services. In a decision published on Friday, the regulator said the acquisition could substantially lessen competition in the supply of critical subsea infrastructure for Australian offshore oil and gas projects.Statement follows. Decision is attached....
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