Schlumberger's ChampionX Merger Remedies Approved by Norway

MT Newswires Live07-14

The Norwegian Competition Authority said Monday it has approved remedial measures related to Schlumberger's (SLB) acquisition of ChampionX (CHX).

The antitrust regulator had cleared the deal in May contingent on certain conditions, including the sale of ChampionX's US Synthetic business.

Since then, ChampionX has signed long-term supply agreements with Baker Hughes (BKR) and Weatherford (WFRD) for continued access to its Quartzdyne products and services, according to a statement. ChampionX also licensed quartz transducer technology to Precis to support new competition in that market, the regulator said.

The regulator said it has concluded its review, and related restrictions on the companies have been lifted.

Price: 36.28, Change: -1.04, Percent Change: -2.77

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