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Schlumberger’s ChampionX buyout raises UK antitrust concerns over North Sea

By Jon Menon ( March 27, 2025, 13:09 GMT | Insight) -- US oilfield-services giant Schlumberger’s $7.8 billion acquisition of smaller peer ChampionX is facing a deeper antitrust probe in the UK after an initial review raised competition concerns in regard to companies operating in the North Sea. The company has until April 3 to offer solutions or see the transaction pass to a phase II review, the Competition and Markets Authority said today. Schlumberger revised its expectations on closing the deal to later in the second quarter or early in the third quarter of this year.US oilfield-services giant Schlumberger’s acquisition of smaller peer ChampionX is facing a deeper antitrust probe in the UK after an initial review raised competition concerns in regard to companies operating in the North Sea....

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