Delays Expected for ChampionX Acquisition as DoJ Demands Additional Information from Schlumberger

Tuesday, 2 July 2024, 23:27
Schlumberger (SLB) is experiencing setbacks in the ChampionX acquisition process due to the Department of Justice requesting further details. This development indicates that the merger timeline may be extended, with the closing now anticipated to take place in Q4 2024 or Q1 2025. The additional scrutiny from the DoJ is likely to impact the overall deal dynamics and could have implications for both companies involved.
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Delays Expected for ChampionX Acquisition as DoJ Demands Additional Information from Schlumberger

Summary:

Schlumberger (SLB) is facing delays in the ChampionX acquisition process as the Department of Justice demands more information. The merger closure is now projected to be in Q4 2024 or Q1 2025.

Key Points:

  • Delay: DoJ requests additional info, impacting merger timeline.
  • Expectation: Closing anticipated in Q4 2024 or Q1 2025.
  • Implications: Increased scrutiny may affect deal outcomes.
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