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Transocean shareholders OK Ocean Rig acquisition

Published 11/29/2018, 12:58 PM
© Reuters.  Transocean shareholders OK Ocean Rig acquisition
RIG
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ORIG
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  • Transocean (RIG +2.6%) says its shareholders overwhelmingly approved the acquisition of Ocean Rig UDW (ORIG +1.5%) and expects to close the deal "in the coming days."
  • RIG offered 1.6128 newly issued shares plus $12.75 in cash for each ORIG common share, for a total implied value of $32.28/share; RIG and ORIG shareholders will own ~79% and 21%, respectively, of the combined company.
  • Now read: Ocean Rig: Q3 Report Shows The Idea To Sell The Company Was A Good One


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