Britain's competition regulator indicated it might accept the measures offered by oilfield services firm SLB and smaller rival ChampionX to address antitrust concerns. These concerns were raised regarding the two companies' proposed $8 billion deal.
The proposed solutions include the divestment of certain businesses in both the U.K. and the United States. This development provides a potential pathway for the merger to gain full regulatory approval.
The Competition and Markets Authority (CMA) now has until June 11 to make a final decision on whether to accept the companies' proposals, with a possible extension to August 8. This marks a positive step towards resolving the regulatory hurdles for the acquisition.
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