Saipem and Subsea7 to merge as Saipem7

Saipem and Subsea7 announced on 23 February 2025 their merger into 'Saipem7' (headquartered in Milan, listed in Milan and Oslo; Subsea7 shareholders receive 6.688 Saipem7 shares per share plus a €450 million special dividend; over 45,000 employees). Added in the 13 September 2026 catch-up run because the case had several milestones in the window: the European Commission opened an in-depth investigation on 22 July 2026 (concerns in the SURF market, deadline 26 November 2026) and stopped the clock from 25 August 2026 to obtain further information from the parties (Offshore Magazine, 11 September 2026). Completion had originally been planned for the second half of 2026. Update (7 Sep 2026): The original Phase II deadline of 26 November 2026 was extended to 16 December 2026 at the parties' request. Because the procedural clock has been stopped since 25 August 2026 with no fixed duration — restarting only once the Commission considers the requested information complete — that date is also considered at risk, and completion could slip into early 2027. (Source: Offshore Magazine, 7 Sep 2026)