Published on 3 Apr 2024 on Zacks via Yahoo Finance
SLB Eyes ChampionX Acquisition in a $7.8B All-Stock Deal
SLB SLB and ChampionX Corporation CHX have announced a definitive agreement for SLB to acquire ChampionX in an all-stock transaction. The agreement, which has received unanimous approval from ChampionX’s board of directors, marks a significant development in the oil and gas industry.
Strategic Alliance for Enhanced Production Solutions
Per the terms of the agreement, ChampionX’s shareholders will receive 0.735 shares of SLB common stock for each ChampionX share they own. Following the closing of the transaction, the shareholders are expected to own approximately 9% of SLB’s outstanding shares of common stock.