FSEM's Voluntary Offer on Scorpion Offshore Falls Through
Reference is made to the voluntary offer on Scorpion Offshore Ltd (SCORE) set forth by Fortune Super Equity Management (FSEM) on April 9, 2008. The voluntary offer expired on May 9, 2008. As set forth in the offer document, the offer was conditional upon reaching 90% acceptance. At the end of the acceptance period, the number of shares having been tendered was not sufficient to meet this condition, nor for FSEM to waive the condition. As a consequence, the shares tendered in the offer will be released.
- Seadrill's Mandatory Offer to Purchase All Scorpion Shares (Jul 15)
- Seadrill Increases Ownership in Scorpion Offshore (May 31)
- UPDATE: Ensco Ends Partial Offer for Scorpion Offshore (May 28)