SLB jumps after announcing $3.4 billion deal for cooling firm Kelvion
SLB•Deal terms and timing
SLB will assume about $700 million of Kelvion's debt under the deal.
The deal is expected to close in the first half of 2027.
Other factors supporting the stock
A rise in oil prices after the U.S. attack on an Iranian island in the Strait of Hormuz and retaliation from Tehran has also helped move share prices up.
Twenty-six of 30 brokerages rate the stock "buy" or above, two "hold" and two "sell"; the median price target is $63, according to data compiled by LSEG.
Up to the last close, the stock has risen nearly 50% year to date.
SLB rises after Kelvion acquisition announcement
Shares of U.S. oil services provider SLB N.V. SLB.N rise more than 2% to $58 premarket.
The company said it will acquire cooling solutions provider Kelvion for $3.4 billion to strengthen its Data Center Solutions business. SLB expects the acquisition to expand its role in data center infrastructure.
Rapid AI adoption is driving demand for power and cooling infrastructure.
