Market Overview

Transocean Launches Unconditional Offer for Shares of Aker Drilling

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Transocean Services AS, a wholly owned subsidiary of Transocean Ltd. (NYSE: RIG), today, after receiving clearance by the Oslo Stock Exchange, launched its all cash voluntary offer for 100 percent of the shares of Aker Drilling ASA for NOK 26.50 per share. The Offer has been made on the same terms as the previously announced voluntary offer, except that it has been made on an unconditional basis and with settlement guaranteed by a financial institution.

The Offer period begins August 26, 2011 and ends on September 23, 2011 at 11:30 a.m. (EDT), 5:30 p.m. . To date, Transocean and its affiliates have acquired 13.7% of the shares and votes in Aker Drilling, and shareholders representing 59.5% of the total share capital of Aker Drilling have given their unconditional and irrevocable pre-acceptances to the Offer.

Posted-In: M&A News

 

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