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SLB Buys ChampionX for $7.8 Billion To Expand Its Oilfield Services Offerings
CHXChampionX(CHX) Investopedia·2024-04-03 00:35

Key TakeawaysSLB on Tuesday announced it was paying about $7.8 billion in stock to purchase rival oilfield services provider ChampionX.The approximately $40.59 per share offer was a 14.7% premium over ChampionX's closing price Monday.SLB also said it would be returning $7 billion to its shareholders over the next two years. Shares of ChampionX (CHX) jumped Tuesday after SLB (SLB) agreed to buy the rival oilfield services provider in an all-stock transaction valued at about $7.8 billion. SLB announced that C ...