"Schlumberger's $8 Billion Acquisition of ChampionX Signals Growing Deal-Making in US Energy Sector"
Schlumberger (SLB) announced its acquisition of ChampionX in an all-stock deal valued at $7.75 billion, marking its second acquisition in a week and the largest since 2016. The deal aims to strengthen SLB's 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 14.7% 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.
