Finance
UK competition regulator launches inquiry into $8 billion SLB-ChampionX deal
Published by Global Banking & Finance Review®
Posted on January 29, 2025
1 min readLast updated: January 27, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on January 29, 2025
1 min readLast updated: January 27, 2026
The UK's CMA is investigating SLB's $8B acquisition of ChampionX for competition concerns, with a decision expected by March 2025.
(Reuters) -Britain's competition regulator said on Wednesday it has launched an inquiry into oilfield services company SLB's proposed $8 billion deal to buy smaller rival ChampionX.
The Competition and Markets Authority said it is looking at whether the deal, which was announced last April, would raise competition concerns in any UK markets.
It has set a deadline of March 27 for its Phase 1 decision.
SLB has said that it expects the deal to clear closer to the first quarter of 2025.
However, several oil and gas firm deals have been delayed by second requests from antitrust regulators for additional information, since the consolidation wave began in 2023.
Last year, the United States Department of Justice sent SLB and ChampionX a second request for additional information related to the deal.
(Reporting by Aby Jose Koilparambil in Bengaluru; Editing by Savio D'Souza)
The proposed deal is valued at $8 billion.
The Competition and Markets Authority has set a deadline of March 27 for its Phase 1 decision.
SLB expects the deal to clear closer to the first quarter of 2025.
Several oil and gas firm deals have been delayed by second requests from antitrust regulators for additional information.
Last year, the United States Department of Justice sent SLB and ChampionX a second request for additional information related to the deal.
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