Transocean Buys R&B Falcon In $5.3B Stock Deal

Tuesday, August 22, 2000
Transocean Sedco Forex Inc., already the world's biggest offshore oil-drilling contractor, agreed to buy R&B Falcon Corp. in a $5.3 billion stock deal that will make it the dominant deepwater driller.

Under the agreement, approved by the boards of both companies, R&B Falcon stockholders will receive 0.5 shares of newly issued Transocean Sedco shares for each R&B Falcon share. Transocean will also assume approximately $3 billion in R&B Falcon debt, putting a total value on the deal of some $8.3 billion.

The combined company would have a market capitalization of about $16.5 billion, almost three times as much as its biggest competitors, and would rank only beneath diversified oilfield services giants Schlumberger Ltd. and Halliburton Co. as a contractor to the global oil and gas industry.

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter February 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Ri'chard Joins Holland America Line as Director

Holland America Line has appointed Denella Riā€™chard to the position of director, trade communication and engagement. In this newly created role she is responsible

SunEdison Restrained from 'Unusual' Asset Transfers

Solar company SunEdison Inc said a U.S. court has restrained the company from making any unusual asset transfers until a hearing in a lawsuit brought on by investors

Maersk to Scrap Ships at India's Alang Beaches, NGO Dismayed

Maersk Line said on Friday it had chosen four shipbreaking yards along India's Alang beaches to handle an increase in vessels that need to be scrapped, to the dismay

Offshore

Premier Oil and Rockhopper Abandon Ocean Rig Contract

Two of the major British players in Falkland Islands offshore oil development, Premier Oil and Rockhopper Exploration, cancelled a joint venture contract with Ocean Rig UDW.

US Oil Drillers Cut Rigs to Least in 6 Years

U.S. energy firms this week cut oil rigs for an eighth week in a row to the lowest levels since January 2010, data showed on Friday, as energy firms continue to

Eni, Exxon, Statoil Win Irish Offshore O&G Licences

The Irish government said on Thursday it had awarded oil and gas licences to companies including oil majors Eni, Exxon and Statoil , allowing them to explore for hydrocarbons off the coast of Ireland.

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Navigation Pod Propulsion Port Authority Ship Electronics Ship Simulators Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | 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: 0.0885 sec (11 req/sec)