SLB announced that the United Kingdom Competition and Markets Authority (CMA) has declined to unconditionally clear SLB’s planned acquisition of ChampionX during the CMA’s Phase 1 review period.
SLB is committed to collaborating with the CMA to address any outstanding concerns and is confident that the transaction will be cleared for closing. As a result of this continued review, SLB now expects that the transaction should close in the second or early third quarter of 2025.
Announced in April 2024, SLB and ChampionX entered into a definitive agreement for SLB to purchase ChampionX. The combined portfolios will drive customer value through deep industry expertise and digital integration, as well as enhanced equipment life and production optimization.
Courtesy of SLB.