Brief: SLB Announces Agreement To Acquire ChampionX In An All-Stock Transaction

ChampionX

02/04/2024 15:51

April 2 (Reuters) - SLB  SLB.N :
    * SLB ANNOUNCES AGREEMENT TO ACQUIRE CHAMPIONX IN AN
ALL-STOCK
TRANSACTION
    * SLB ANNOUNCES AGREEMENT TO ACQUIRE CHAMPIONX IN AN
ALL-STOCK
TRANSACTION
    * SLB - CHAMPIONX SHAREHOLDERS TO RECEIVE 0.735 SLB SHARES
FOR
EACH SHARE OF CHAMPIONX
    * SLB: CHAMPIONX SHAREHOLDERS TO RECEIVE 0.735 SLB SHARES
FOR EACH
SHARE OF CHAMPIONX
    * SLB - SLB WILL INCREASE ITS TOTAL RETURNS TO SHAREHOLDERS
TO A
TARGET OF $3 BILLION IN 2024
    * SLB - SETS TARGET FOR RETURNS TO SHAREHOLDERS OF $4
BILLION IN
2025
    * SLB - AT CLOSING OF TRANSACTION CHAMPIONX SHAREHOLDERS
WILL OWN
APPROXIMATELY 9% OF SLB'S OUTSTANDING SHARES OF COMMON STOCK
    * SLB: IT WILL RETURN $7 BILLION TO SHAREHOLDERS OVER NEXT
TWO
YEARS.
    * SLB - EXPECTS TO REALIZE ANNUAL PRETAX SYNERGIES OF
APPROXIMATELY $400 MILLION WITHIN FIRST THREE YEARS POST-CLOSING
    * SLB: AGREEMENT WAS UNANIMOUSLY APPROVED BY CHAMPIONX BOARD
OF
DIRECTORS.
    * SLB - CLOSING OF TRANSACTION WILL OCCUR BEFORE END OF 2024

Source text for Eikon:  ID:nBw9vwtf7a 
Further company coverage:  SLB.N 

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