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

People & Company News

Vale CEO: Coal Deal Soon

Brazilian mining company Vale SA is close to making a "strategic" announcement concerning its coal unit, the company's chief executive Murilio Ferreira said on

Braemar Hosts Insurance Experts

Braemar (incorporating The Salvage Association) welcomed an invited group of marine insurance professionals onto its specialist port and shipyard familiarization

NAO Announces Financials, Declares Dividend

Nordic American Offshore Ltd. has declared a dividend of $0.45 per share for 3Q2014, as previously announced. This is the same dividend as for the previous two quarters.

Offshore

Experimental Floating Wind Farm Nears Installation

Launched in March 2012, the Fukushima experimental offshore floating wind farm project sponsored by the Ministry of Economy, Trade and Industry is nearing the installation

NAO Announces Financials, Declares Dividend

Nordic American Offshore Ltd. has declared a dividend of $0.45 per share for 3Q2014, as previously announced. This is the same dividend as for the previous two quarters.

First Libra Offshore Oil Well Confirms Discovery

Libra consortium reports that drilling the first well in the area extension of Libra, the 3-BRSA-1255-RJS (3-RJS-731), confirmed the discovery of good quality

 
 
Maritime Standards Navigation Pod Propulsion Port Authority Salvage Ship Electronics Ship Repair Ship Simulators Sonar 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: 0.1402 sec (7 req/sec)