Global Marine and Santa Fe International Corporation Complete Merger Of Equals

Tuesday, November 20, 2001
Houston-based GlobalSantaFe Corporation announced that Global Marine Inc. and Santa Fe International Corporation completed their merger of equals. The ordinary shares of GlobalSantaFe will begin trading on the New York Stock Exchange on November 21, 2001, under the symbol "GSF". Global Marine and Santa Fe International shareholders approved the merger during separate shareholder meetings held earlier today. Under the terms of the merger agreement each share of Global Marine common stock was converted into 0.665 of an ordinary share of GlobalSantaFe. Santa Fe International ordinary shares will trade as GlobalSantaFe ordinary shares. The combined company will have approximately 233 million shares outstanding.

"This merger of two great companies creates the world's premier drilling contractor," GlobalSantaFe chairman, Robert E. "Bob" Rose, said. "With a focus on providing a full spectrum of premium equipment and services, GlobalSantaFe has the size and reach to serve the world's largest oil and gas companies in every key offshore drilling region."

C. Stedman "Sted" Garber, GlobalSantaFe president and chief executive officer, said, "This combination speaks to the future. Meeting the challenges of our marketplace requires a company that can embrace the changing needs of our customers as well as maintain the financial strength necessary to operate effectively through volatile business cycles. What will not change, however,is our commitment to safety, the environment, ethics and customer service."

Maritime Reporter October 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

W&O, LESER Partner to Deliver Safety Relief Valves

W&O, a global supplier to the marine and upstream oil and gas markets for pipe, valves and fittings, valve automation and engineered solutions, has partnered with

Fednav Celebrates Anniversary Trio in Cleveland

Fednav Limited held a reception on board one of its vessels, the Federal Mayumi, at the Port of Cleveland yesterday to celebrate a trio of anniversaries: the 70th

Karl Senner Inks Distribution Deal with Electronic Power Design

Karl Senner, LLC (KS) has reached a new strategic representation agreement with Electronic Power Design (EPD). Karl Senner, LLC now represents EPD in the United States marine and offshore Markets.

Navy

Subsea Defense & the Changing Paradigm of Submarine Programs

Technology and dynamic mission profiles have driven change in the defense industry, Hydro Group Plc Managing Director Doug Whyte, explores the changing paradigm of submarine programs,

Rolls-Royce Wins US Marine Corps Contract

Rolls-Royce has been awarded a new, two-year contract to provide aftermarket engine support for the US Marine Corps and Air Force V-22 fleets, which provides

US Navy Evaluating SEWIP for LCS

The U.S. Navy is evaluating a scaled-down version of the Surface Electronic Warfare Improvement Program (SEWIP) system for potential incorporation on future Littoral Combat Ships (LCS),

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Naval Architecture Pipelines Salvage Ship Repair Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1531 sec (7 req/sec)