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
 -  Sound Oil Begins Drilling Second Nerve... (Apr 24)
 -  KrisEnergy Starts Drilling Rayrai-1 in... (Apr 24)
 -  Cosco Dalian Bags MODEC's $95M FPSO Co... (Apr 23)
 -  TGS's Revenues Fall Due to Decline in ... (Apr 23)
 -  Lundin Says 1Q Profitability Affected ... (Apr 22)
Most Popular Articles
From the Career Center
Jobs that may interest you
Integration Project Manager
Expertise: Business Development|IT - Programming & Database
Location: Houston, TX
 
Business Development Manager - Drilling
Expertise: Business Development|Sales & Marketing|Subsea Engineering|Umbilicals, Risers and Flowlines
Location: Houston, 
 
Sales Manager - Subsea Drilling Systems
Expertise: Business Development|Sales & Marketing|Subsea Engineering|Umbilicals, Risers and Flowlines
Location: Houston, 
 
search for more jobs