Bureau clears National Oilwell Varco’s acquisition of Robbins & Myers
March 4th, 2013
The Bureau announced that it does not intend to challenge National Oilwell Varco’s acquisition of Robbins & Myers. National and R&M provide products, including motor components and blowout preventers, and other services in the oil, gas and extraction industry. The Bureau’s preliminary review focused on National and R&M’s competitors in various product categories. The Bureau considered North America as the relevant geographic market for each of the product categories.
Although National and R&M’s combined market shares were found to be high, the Bureau determined that a substantial lessening or prevention of competition was unlikely, post-acquisition, as a result of various factors, such as the countervailing power held by large customers, the strength of remaining competition, and limited concerns with barriers to entry.
Read the Bureau’s press release.