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%.