SLB Announces $8-Billion Deal as Mergers Extend to Oilfield Sector ...Middle East

OILPRICE - Economy
SLB Announces $8-Billion Deal as Mergers Extend to Oilfield Sector
source : OILPRICE ( Middle East ) () 68
SLB, the world’s top oilfield services provider, announced on Tuesday a definitive agreement to buy smaller competitor ChampionX Corporation in an all-stock deal valued at $7.75 billion, as the energy sector consolidation extends to the oilfield services segment. SLB and ChampionX announced the agreement whose terms stipulate that ChampionX shareholders will receive 0.735 shares of SLB common stock in exchange for each ChampionX share. At the closing of the transaction ChampionX shareholders will own around 9% of SLB’s outstanding…

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