Schlumberger Nears Completion of $3.2B ChampionX Merger After UK Approval

Schlumberger Limited has received final regulatory approval from the UK Competition and Markets Authority for its $8 billion all-stock acquisition of ChampionX Corporation, removing the last major hurdle for the merger set to close on July 16, 2025. The CMA accepted Schlumberger's commitments to address competition concerns, including asset divestitures, enabling the consolidation of ChampionX as a wholly owned subsidiary. This approval follows earlier clearances from U.S., Canadian, and EU regulators, making the merger's completion nearly certain and allowing Schlumberger to focus on integrating ChampionX's complementary technologies to enhance its oilfield services platform. The combination aims to create operational synergies by merging ChampionX's production chemicals and artificial lift systems with Schlumberger's digital reservoir analytics and automation tools, strengthening their vertically integrated offerings. The all-stock deal structure preserves Schlumberger’s liquidity amid market volatility and geopolitical risks, positioning the company for future growth. Analysts rate Schlumberger stock as a Buy with positive financial outlooks, reflecting confidence in the strategic benefits of the acquisition despite some operational and regional challenges.