Britain's competition regulator announced on Wednesday that it has launched an inquiry into SLB's proposed $8 billion deal to acquire smaller rival ChampionX. The inquiry will assess whether the merger could lead to a substantial lessening of competition within the UK.
This regulatory action introduces a new layer of scrutiny for the acquisition, which was initially announced in April 2024. The Competition and Markets Authority (CMA) will examine the potential impact of the deal on various markets.
The inquiry could result in delays to the transaction or require SLB and ChampionX to offer remedies, such as divestitures, to address any identified antitrust concerns. The outcome will be crucial for the completion of the merger as planned.
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