Slb announces agreement to acquire championx in an all-stock transaction

Houston--(business wire)--slb (nyse: slb) and championx corporation (nasdaq: chx) today announced a definitive agreement for slb to purchase championx in an all-stock transaction. the agreement was unanimously approved by the championx board of directors. under the terms of the agreement, championx shareholders will receive 0.735 shares of slb common stock in exchange for each championx share. at the closing of the transaction championx shareholders will own approximately 9% of slb's outstandin.
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