08:28 AM EST, 01/29/2025 (MT Newswires) -- Schlumberger ( SLB ) and ChampionX's ( CHX ) proposed merger will be placed under a phase 1 inquiry by the UK Competition and Markets Authority, according to a Wednesday statement by the regulator.

The CMA said the inquiry period will begin Thursday and it targets to issue a decision by March 27 on whether to conduct a phase 2 investigation.

Schlumberger ( SLB ) and ChampionX ( CHX ) announced their planned merger in April 2024, under which Schlumberger ( SLB ) will acquire ChampionX ( CHX ) in an all-stock transaction.

Schlumberger ( SLB ) and ChampionX ( CHX ) did not immediately respond to MT Newswires' requests for comments.