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SLB, ChampionX get second request from DoJ for proposed $8 bln deal details
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SLB, ChampionX get second request from DoJ for proposed $8 bln deal details
Jul 2, 2024 3:27 PM

July 2 (Reuters) - Oilfield services company SLB

said on Tuesday it has received a second request for additional

information from the United States Department of Justice in

connection with its $7.75 billion acquisition deal for smaller

rival ChampionX ( CHX ).

ChampionX ( CHX ) also received a second request, SLB said, adding

that it now expects the deal to close in the fourth quarter or

the first quarter of 2025, compared to its previous forecast of

end of the year.

Several oil and gas firm deals have been delayed by second

requests from antitrust regulators for additional information as

part of their review process for mergers, since the

consolidation wave began in 2023.

In April, Chesapeake Energy ( CHK ) and Southwestern Energy ( SWN )

said the closing date of their proposed $7.4 billion

merger had been pushed back to the second half of the year from

second quarter, after receiving a second request from the

Federal Trade Commission.

(Reporting by Tanay Dhumal in Bengaluru; Editing by Alan Barona

and Shinjini Ganguli)

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