(Bloomberg) -- Transocean Inc. and GlobalSantaFe
Corp., the two largest offshore oil and gas drillers, agreed to
merge, creating a company with a $33 billion order backlog and
worldwide market reach.
Shareholders of both Houston-based companies will receive a
combined $15 billion in cash, Transocean and GlobalSantaFe said
today in a statement. Each will get a ratio of cash and shares
in the combined company approximately equal to stock prices of
the two drillers at the end of last week.
Read more at Bloomberg Energy News
Corp., the two largest offshore oil and gas drillers, agreed to
merge, creating a company with a $33 billion order backlog and
worldwide market reach.
Shareholders of both Houston-based companies will receive a
combined $15 billion in cash, Transocean and GlobalSantaFe said
today in a statement. Each will get a ratio of cash and shares
in the combined company approximately equal to stock prices of
the two drillers at the end of last week.
Read more at Bloomberg Energy News
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