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ChampionX will be acquired by Schlumberger in all-stock transaction
Chicago, April 3 – ChampionX Corp. is being acquired by Schlumberger NV in an all-stock transaction, according to a press release.
The agreement places a value of $40.59 per ChampionX share, a 14.7% premium to the trading price on April 1, or values the company at $7.8 billion.
All ChampionX debt, under the merger agreement, will become debt of Schlumberger.
Debt would include the company’s $625 million term loan and $700 million revolving credit facility.
The deal is expected to close in late 2024.
ChampionX is a The Woodlands, Tex.-based provider of chemistry solutions and highly engineered equipment and technologies that help companies drill for and produce oil and gas. Schlumberger is an energy offshore drilling company based in Houston.
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