"SLB's $8 Billion Acquisition of ChampionX Signals Energy Sector Consolidation"

Oilfield services company SLB has announced its acquisition of smaller rival ChampionX in an all-stock deal valued at $7.75 billion, marking its second acquisition in a week and the biggest purchase since 2016. The deal is part of a trend of consolidation in the North American energy sector, with SLB aiming to strengthen its operations by adding production chemicals and artificial lift technologies to its portfolio. ChampionX shareholders will receive 0.735 shares of SLB common stock, or $40.59 per share, representing a 14.6% premium to ChampionX's last closing price. SLB expects annual pre-tax savings of about $400 million in the first three years after the deal closure, which is expected before the end of 2024.