Schlumberger (SLB) said Tuesday it has met US antitrust requirements for its planned acquisition of ChampionX (CHX), as waiting periods under the Hart-Scott-Rodino Act have expired.
The company said it has agreed to sell ChampionX's ownership in US Synthetic Corporation to a third-party buyer, while it will retain its MegaDiamond operations.
The acquisition still faces regulatory scrutiny in other regions, including a Phase II review by Norway's competition authority, Schlumberger said.
The company added it now expects the deal to close by the end of Q1 or in early Q2, depending on the outcome of the remaining reviews.
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