CHX Stock: ChampionX Pops on News of Schlumberger Acquisition

ChampionX (NASDAQ:CHX) stock is a hot topic among traders on Tuesday after the oil and gas technology company announced that it is being acquired by SLB (NYSE:SLB)!A press release reveals that investors in ChampionX will receive 0.735 shares of SLB stock for each share of CHX stock that they own. Following this, CHX investors will hold a 9% stake in SLB.The merger also includes annual synergies of $400 million within the first three years of its completion. In addition to this, SLB has pledged to return$7 ...