SLB, the world's largest oil field services provider, is acquiring ChampionX in an all-stock deal valued at $7.8 billion. ChampionX shareholders will receive 0.735 shares of SLB for each CHX share, representing a 14.7% premium. The deal, initially expected to close by the end of 2024, may extend to early 2025 due to a second information request from the DOJ. Additionally, SLB plans to sell its Canadian upstream assets for $430 million, with the divestment expected to close in late Q4 2024.

James Fisher and Sons sold Aberdeen-based RMSpumptools to US oilfield tech firm ChampionX for £90 million. RMS, which designs and manufactures systems for electrical submersible pumps, employs about 130 people. The sale strengthens Fisher's balance sheet and aligns with its strategy to simplify its portfolio. RMS's managing director Doug Harwell and other key executives will remain. RMS generated £43m in revenue and £11m in operating profits last year, with assets of £26m as of December 31, 2023.

SLB (NYSE: SLB) announced a second request for additional information from the U.S. Department of Justice (DoJ) regarding its planned acquisition of ChampionX (NASDAQ: CHX). The acquisition, approved by ChampionX stockholders on June 18, 2024, is expected to close in Q4 2024 or Q1 2025, pending regulatory approvals and customary closing conditions. The DoJ's review process is ongoing.