# Archer signs term sheet to potentially acquire Baker Hughes UK coil tubing and pumping business

Archer Limited signed a term sheet with Baker Hughes to potentially acquire Baker Hughes' coil tubing and pumping business in the United Kingdom. The deal is a remedy under a UK Competition and Markets Authority process and remains subject to definitive agreements and CMA approval.

- Type: Acquisition
- Announced: 2023-01-17
- Where: United Kingdom, United Kingdom
- Status: announced
- Products: coil tubing services, pumping services

## Companies

- [Baker Hughes](https://endata.com/companies/1895.md) (target)
- [Archer Limited](https://endata.com/companies/3790.md) (acquirer)

## Sources

- [archerwell.com](https://archerwell.com/archer-limited-archer-signs-term-sheet-to-potentially-acquire-baker-hughes-coil-tubing-and-pumping-business-in-the-united-kingdom/), 2023-01-17: "Archer Limited has signed a term sheet with Baker Hughes Limited (“Baker Hughes”) to potentially acquire Baker Hughes’ coil tubing and pumping (“CT&P”) business in the United Kingdom."
- [archerwell.com](https://archerwell.com/archer-limited-archers-acquisition-of-baker-hughes-coil-tubing-and-pumping-business-in-the-uk-is-approved-by-the-uk-cma/), 2023-03-02: "Archer is pleased to announce that the CMA has approved the Transaction and final closing will occur in early April 2023."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.