Monday, 15 August 2011

Aker Drilling rockets on voluntary offer

Transocean Services AS, a subsidiary of Transocean Ltd. (NYSE: RIG), has made a proposed voluntary offer for Aker Drilling ASA (OSE: AKD). The offer is all cash at an offer price of NOK 26.50 per share, a 62 percent premium on MA30 and nearly 100% premium on Friday close.

Aker Capital AS, a subsidiary of Aker ASA (OSE: AKER) and other shareholders representing over 60% of the outstanding shares have committed to selling their share to Transocean. Aker Drilling’s Board Of Directors unanimously recommends shareholders to accept the offer. Aker Drilling is trading near the offer price and Aker ASA is up nearly 10% as well

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