Hercules Offshore in the US has announced that the Department of Justice and the Federal Trade Commission have granted early termination of the government's pre-merger antitrust review of the transaction under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, relating to the previously announced merger with TODCO.
On March 22nd, Hercules Offshore announced that it had entered into an Agreement and Plan of Merger with TODCO and The Hercules Offshore Drilling Company LLC, a wholly owned subsidiary of Hercules Offshore.
The merger remains subject to certain stockholder approvals, as well as the satisfaction of other customary closing conditions. Hercules Offshore and TODCO previously announced the meeting date for the stockholders of the companies.
Hercules Offshore expects
that the merger will close immediately after the stockholders meetings, which are scheduled to be held on July 11th, 2007.