Drilling Companies Noble Corporation And Diamond Entered Into Merger Agreement
Date
6/10/2024 3:11:25 PM
(MENAFN- AzerNews)
By Alimat Aliyeva
British offshore drilling contractor Noble Corporation plc is
buying rival American company Diamond Offshore Drilling Inc,
Azernews reports.
The deal, which was unanimously approved by the boards of
directors of both companies, is estimated at $1.6 billion.
Diamond Offshore shareholders will receive 0.2316 Noble shares and
$5.65 in cash for each share of the company they own. This
represents a premium of $11.4% to the securities price at the close
of the market on June 7.
Upon completion of the transaction, Diamond Offshore
shareholders will own almost 14.5% of Noble shares.
The deal is scheduled to close by the end of the first quarter
of 2025 after receiving approval from regulators and Diamond
Offshore shareholders.
Noble President and CEO Robert Eifler said the deal will also
strengthen Noble's position by adding four seventh-generation
drilling vessels to the company's fleet, as well as one of the most
high-tech semi-submersible drilling rigs in the world.
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