SLB to acquire ChampionX in all-stock deal; ChampionX holders get 0.735 SLB shares

SLB LIMITED/NV

ChampionX shareholders receive 0.735 SLB shares per CHX share, owning ~9% of combined company.
Annual pre-tax cost synergies targeted at ~$400 million within three years of close.
SLB boosts 2024 shareholder returns target to $3B; sets 2025 target of $4B.
Deal unanimously approved by ChampionX board; requires CHX shareholder vote and regulatory clearances.
Closing expected by April 2, 2025, with possible extension to Oct 2, 2025.

item 1.01 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

SLB LIMITED/NV entered into Agreement and Plan of Merger with ChampionX Corporation (effective 2024-04-02).

Action: entry
Agreement: merger
Counterparty: ChampionX Corporation
Effective: 2024-04-02

Exact text from the filing

On April 2, 2024, Schlumberger Limited (“SLB”), a Curaçao corporation, and its indirect, wholly owned subsidiaries, Sodium Holdco, Inc., a Delaware corporation (“Holdco”), and Sodium Merger Sub, Inc., a Delaware corporation (“Merger Sub” and, together with SLB and Holdco, the “SLB Parties”), entered into an Agreement and Plan of Merger (the “Merger Agreement”) with ChampionX Corporation, a Delaware corporation (“ChampionX”), pursuant to which SLB will acquire ChampionX in an all-stock transaction.

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SLB LIMITED/NV filing history →

Source: SEC EDGAR

accession 0001193125-24-084191

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