(Reuters) - Transocean and GlobalSantaFe, two of the largest oil drillers, agreed on Monday to a near $18 billion deal in which their shareholders will both receive a cash payment at the time of the deal in addition to stock in the new company.
To do that, the companies combined a $15 billion leveraged recapitalization backed by a bridge loan with a stock-for-stock swap that gives no premium to shareholders -- a new deal structure that will likely turn up again, M&A experts said.
Read more at Reuters.com Bonds News
To do that, the companies combined a $15 billion leveraged recapitalization backed by a bridge loan with a stock-for-stock swap that gives no premium to shareholders -- a new deal structure that will likely turn up again, M&A experts said.
Read more at Reuters.com Bonds News
No comments:
Post a Comment