SLB rises after $3.4 billion Kelvion buyout announcement

SLB

31/08/2026 15:20

Updates
** Shares of U.S oil services provider SLB N.V. SLB.N rise more than 5% to $60 
** Co to acquire cooling solutions provider Kelvion from Apollo Global and funds managed by Triton for $3.4 billion
** SLB says acquisition to strengthen co's Data Center Solutions business and expand its role in data centre infrastructure
** Rapid AI adoption is driving demand for power and cooling infrastructure
** Co expects its combined data center solutions business to generate $4.5 billion–$5 billion in revenue and $700 million–$800 million in adjusted EBITDA by 2028
** Data centers are Kelvion's largest and fastest-growing end market, co said
** Deal is expected to close in the first half of 2027
** 26 of 30 brokerages rate the stock "buy" or above, 2 "hold", 2 "sell"; median PT at $63 - data compiled by LSEG
** Including session moves, stock has risen more than 57% YTD

 (Reporting by Miraanta Lowrance in Bengaluru)
 ((miraanta.lowrance@thomsonreuters.com))