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On April 2, 2024, Schlumberger Limited (SLB) and ChampionX Corporation (CHX) have entered into a definitive merger agreement. As per the conditions of the merger, Schlumberger Limited will acquire ChampionX Corporation in an all-stock transaction valued at $8.22 billion.
Under the terms of the agreement, shareholders of ChampionX Corporation will receive 0.735 shares of Schlumberger Limited for each share held, representing a premium of 14.66% based on ChampionX Corporation’s closing price of $35.40 on April 1 , 2024. The premium over the 30-day average trading price comes to 24.85%.
ChampionX Corporation shareholders will benefit from an annual dividend of $0.38 per share and the stock is optionable. This strategic acquisition enables Schlumberger Limited to purchase ChampionX Corporation at 1.85 times its sales and 9.57 times its EBITDA.
Click here for more information on the Deal Metrics: Deal Metrics for the acquisition of ChampionX Corporation (CHX) by Schlumberger Limited (SLB)
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