SLB to buy ChampionX in $7.7 bln all-stock deal (updated)

ChampionX

02/04/2024 12:43

(Adds details on deal and share buyback in paragraph 2 and 3)
       April 2 (Reuters) - Oilfield services company SLB
 SLB.N  said on Tuesday it will buy ChampionX  CHX.O  in an
all-stock deal valued at $7.75 billion.
     ChampionX shareholders will receive 0.735 shares of SLB
common stock, and the deal is expected to close before the end
of 2024.
    SLB said it would return $7 billion to shareholders over the
next two years and increase its 2024 shareholder returns to a
target of $3 billion.

 (Reporting by Arunima Kumar in Bengaluru; Editing by Arun
Koyyur)
 ((Arunima.Kumar@thomsonreuters.com; Twitter: https://twitter.com/Aru_Kumar94
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