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Victor E Grijalva News

08 Mar 2001

Transocean Closes R&B Falcon Merger

Transocean Sedco Forex Inc., recently announced the close of its merger with R&B Falcon Corporation, creating an offshore drilling contractor with unprecedented fleet and enhanced geographic diversity, technical expertise, financial strength and equity market liquidity. Pursuant to the merger agreement, Transcocean Sedco Forex will issue 106 million ordinary shares to R&B Falcon shareholders at the exchange ratio of 0.5 shares of Transocean Sedco Forex for each share of R&B Falcon, Following the exchange, the company's ordinary shares outstanding will total approximately 317 million. The company also announced that Victor E. Grijalva would continue to serve as the chairman of the board of directors of Transocean Sedco Forex…

23 Aug 1999

Schlumberger And Transocean Offshore Combine Forces

Schlumberger Limited and Transocean Offshore Inc. have signed a definitive merger agreement under which the offshore contract drilling business of Schlumberger (Sedco Forex Offshore) will be spun off and promptly combined with Transocean Offshore in a merger of equals. The resulting company, Transocean Sedco Forex, will be the world's largest offshore drilling company and is projected to become the fourth largest oilfield service company in terms of market capitalization. The transaction, which should close by December 31, 1999, is anticipated to be modestly dilutive to Transocean Offshore's current earnings expectations for 2000 and accretive thereafter.

07 Jan 2000

Transocean Sedco Forex Merger Establishes World's Largest Offshore Driller

Transocean Offshore Inc. has completed its merger with Sedco Forex, which was spun-off from Schlumberger Limited. The resulting company, Transocean Sedco Forex Inc., is now the world's largest offshore drilling contractor and third-largest oilfield services company in terms of equity market capitalization, based on closing market prices on Dec. 30. In the merger, approximately 109.6 million ordinary shares of Transocean Offshore are being issued to stockholders of Schlumberger. The number of new shares issued is equivalent to 0.1936 shares of Transocean Sedco Forex for each outstanding Schlumberger share. Following the merger, Schlumberger stockholders hold about 52% of the approximately 210.1 million outstanding shares of Transocean Sedco Forex.