SLB Clears US Regulatory Review of ChampionX Acquisition [Yahoo! Finance]
ChampionX Corporation (CHX)
Company Research
Source: Yahoo! Finance
Schlumberger NV (SLB) and ChampionX Corp. have hurdled an extended anti-trust probe of the oilfield tech companies' merger by the United States Department of Justice (DOJ). “[A]ll applicable waiting periods under the U.S. Hart-Scott-Rodino Antitrust Improvements Act of 1976 have expired, and SLB is legally permitted to close the ChampionX transaction in the United States”, SLB said in an online statement. However, the combination is facing another extended review in Norway. “As a result, SLB now expects the transaction to close by the end of the first quarter or early in the second quarter of 2025”, the statement said. The Norwegian Competition Authority said February 25 its initial review found that “competition in several markets could be weakened if Schlumberger is allowed to acquire ChampionX”. It launched a Phase 2 review after the companies' proposed remedies to the concerns raised in Phase 1 findings failed to satisfy the regulator. “Both companies offer production che
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