ChampionX (CHX) Company Report

SLB has completed its previously announced acquisition of ChampionX Corporation.
Under the terms of the agreement, ChampionX shareholders received 0.735 SLB ordinary shares in exchange for each ChampionX share, leading former ChampionX shareholders to hold approximately 9% of SLB's outstanding ordinary shares.
This strategic acquisition solidifies SLB's leadership in the production and recovery segment, enhancing its portfolio with ChampionX's production chemicals and complementary artificial lift, digital, and emissions technologies.
SLB anticipates achieving approximately $400 million in annual pre-tax synergies from the acquisition within the first three years post-closing, through increased revenue and cost reduction.

Jul 17, 2025, 12:07 AM

ChampionX Corporation completes merger with Schlumberger Limited subsidiary

CHX

M&A

Delisting/Listing Issues

Board Change

ChampionX Corporation completed its merger on July 16, 2025, becoming an indirect wholly owned subsidiary of Schlumberger Limited (SLB).
Each share of ChampionX common stock was converted into the right to receive 0.735 shares of SLB Common Stock.
ChampionX has initiated the process to delist its common stock from The Nasdaq Stock Market LLC and deregister it with the SEC.
In connection with the merger, ChampionX terminated and repaid all outstanding obligations under its Amended and Restated Credit Agreement.
The merger resulted in a change of control for ChampionX, with the prior board of directors and officers resigning, and new directors and a president appointed for the surviving entity.