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SLB (NYSE:SLB) disclosed Tuesday that the U.K. Competition and Markets Authority cleared its $8B acquisition of ChampionX (CHX) after accepting commitments to address competition concerns, with the deal set to close on Wednesday.
The U.K. antitrust regulator accepted commitments from the two companies instead of launching a more detailed Phase 2 investigation.
SLB (NYSE:SLB), the world’s largest oilfield services provider, agreed to sell its chemical technologies business in the U.K., and ChampionX (CHX) will sell its equity interests in US Synthetic.
SLB (SLB), the world’s largest oilfield services provider, agreed in April 2024 to an all-stock deal for ChampionX (CHX) to strengthen its production systems unit and expand its presence in chemicals and automation used in oil extraction.