Finance
SLB's ChampionX deal clears final hurdle with UK approval
Published by Global Banking & Finance Review®
Posted on July 15, 2025
1 min readLast updated: January 22, 2026
Quick Summary
SLB's $8 billion acquisition of ChampionX has received UK antitrust approval, with the deal set to close soon, enhancing SLB's oilfield services.
UK Antitrust Authority Approves SLB's $8 Billion ChampionX Acquisition
(Reuters) -Britain's antitrust watchdog has cleared oilfield services firm SLB's $8 billion acquisition of ChampionX after accepting commitments to address competition concerns, with the deal set to close on Wednesday.
The UK's Competition and Markets Authority accepted commitments from SLB and ChampionX instead of launching a more detailed Phase 2 investigation, it said on Tuesday.
The world's largest oilfield services provider in April 2024 agreed to an all-stock deal for ChampionX to strengthen its production systems unit and expand its presence in chemicals and automation used in oil extraction.
(Reporting by Arunima Kumar and Raechel Thankam Job in Bengaluru; Editing by Shinjini Ganguli and Sriraj Kalluvila)
Key Takeaways
- •SLB's $8 billion acquisition of ChampionX approved by UK.
- •UK's CMA accepted commitments, avoiding a Phase 2 probe.
- •Deal strengthens SLB's production systems and automation.
- •ChampionX acquisition enhances oil extraction capabilities.
- •Deal closure scheduled for Wednesday.
Frequently Asked Questions about SLB's ChampionX deal clears final hurdle with UK approval
1What did the UK's Competition and Markets Authority decide?
The UK's Competition and Markets Authority cleared SLB's acquisition of ChampionX after accepting commitments to address competition concerns.
2What was the value of SLB's acquisition of ChampionX?
SLB's acquisition of ChampionX is valued at $8 billion.
3What was the alternative to a Phase 2 investigation?
The Competition and Markets Authority accepted commitments from SLB and ChampionX instead of launching a more detailed Phase 2 investigation.
4When did SLB agree to the deal for ChampionX?
SLB agreed to the all-stock deal for ChampionX in April 2024.
5What is the purpose of SLB acquiring ChampionX?
The acquisition aims to strengthen SLB's production systems unit and expand its presence in chemicals and automation.
