UK competition regulator launches inquiry into $8 bln SLB-ChampionX deal

ChampionX

29/01/2025 12:14

Jan 29 (Reuters) - Britain's competition regulator said
on Wednesday it has launched an inquiry into oilfield services
company SLB's  SLB.N  proposed $8 billion deal to buy smaller
rival ChampionX  CHX.O .
    The Competition and Markets Authority said it is looking at
whether the deal, which was announced in last April, would raise
competition concerns in any UK markets.
    It has set a deadline of March 27 for its Phase 1 decision.

 (Reporting by Aby Jose Koilparambil in Bengaluru; Editing by
Savio D'Souza)
 ((abyjose.koilparambil@thomsonreuters.com;))