UK's Competition and Markets Authority probes SLB-ChampionX $8bn acquisition [Yahoo! Finance]
ChampionX Corporation (CHX)
Company Research
Source: Yahoo! Finance
GlobalData Thu, January 30, 2025 at 12:59 PM GMT+1 2 min read The UK's Competition and Markets Authority (CMA) has initiated an investigation into the proposed $8bn acquisition of ChampionX by oilfield services giant SLB, reported Reuters The authority is scrutinising the deal, announced last April, for potential competition issues in the UK markets. The CMA has set a deadline of 27 March 2025 for its preliminary phase one decision, and SLB anticipates the acquisition will receive clearance by the first quarter of the year (Q1 2025). ATB Capital Markets analysts have noted that the CMA's deadline is subject to change. The industry has seen a trend of delayed transactions due to antitrust regulators including the US Department of Justice requesting additional information since the start of a consolidation wave in 2023. Last year, SLB and ChampionX received a second request from the US Department of Justice concerning their deal. ATB Capital Markets' analysts were quo
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