Finance & Investing
News Services
Newsletters
Get free industry updates via email.
Daily News
Weekly News
Equipment Updates
Weekly Job Register
Monthly Event Guide
Our privacy
pledge.


advertisement

Seadrill to Launch Takeover Bid for Asia Offshore Drilling

change text size

Seadrill expects to proceed with the launch of a mandatory cash offer for the remaining shares of Asia Offshore Drilling Limited after acquiring more than 12 million shares of Asia Offshore Drilling's stock.

Seadrill disclosed late Thursday in a statement on the Oslo Stock Exchange that its acquisition of Asia Offshore Drilling's stock at $5/share (NOK28.71) has increased Seadrill's ownership of the company's share to 25.6 million, or 64.23 percent of the outstanding shares in the company.

"Such mandatory offer will be launched as soon as practically possible, within the time limits set out in Chapter 6 of the Norwegian Securities Trading Act," Seadrill said in a statement.



Have a news tip? Share it with Rigzone!
Email news@rigzone.com

WHAT DO YOU THINK?

Post a Comment Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies
 Company: Asia Offshore Drillingmore info
 - Seadrill to Launch Takeover Bid for Asia Offshore Drilling (Oct 26)

More from this Author
Rigzone Staff
e-mail us at news@rigzone.com
 -  Chariot Opts Not to Pursue License for... (Oct 23)
 -  Shell Hits Gas in Pre-Salt Reservoir O... (Oct 22)
 -  BP Awards FEED Contracts for Tangguh E... (Oct 22)
 -  Nordic Energy Strengths its Board with... (Oct 22)
 -  Lakes Oil Bags 2 Offshore Exploration ... (Oct 21)
Most Popular Articles
From the Career Center
Jobs that may interest you
Business Development Representative - Consulting
Expertise: Business Development
Location: Houston, TX
 
Senior Division Order Analyst
Expertise: Landman
Location: Houston, TX
 
Account Manager
Expertise: Business Development, Sales and Marketing, Technical Sales
Location: Denver, CO
 
search for more jobs