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The regulator stated that the merger might result in a notable decrease in competition within the UK market.
The CMA launched an inquiry into the purported agreement in January of this year. After the outcomes of the initial phase, the regulator sought suggestions from the involved parties to address the identified claims. The companies need to promptly present adequate proof that they will act to resolve these issues, or the CMA will initiate a detailed investigation into the transaction (phase two) as per the Enterprise Act 2002.
The SLB has announced its plan to collaborate with the CMA to resolve the issues and believes that the deal will be sanctioned. The company anticipates that the deal will be finalized in the second or early third quarter of 2025.
SLB declared its acquisition of ChampionX for $7.8 billion in April 2024.
source: ft.com
The CMA launched an inquiry into the purported agreement in January of this year. After the outcomes of the initial phase, the regulator sought suggestions from the involved parties to address the identified claims. The companies need to promptly present adequate proof that they will act to resolve these issues, or the CMA will initiate a detailed investigation into the transaction (phase two) as per the Enterprise Act 2002.
The SLB has announced its plan to collaborate with the CMA to resolve the issues and believes that the deal will be sanctioned. The company anticipates that the deal will be finalized in the second or early third quarter of 2025.
SLB declared its acquisition of ChampionX for $7.8 billion in April 2024.
source: ft.com
