Big Dog's Boom Boom Room Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Big Dog's Boom Boom Room

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: ChanceIs who wrote (87890)	7/23/2007 7:17:56 AM
From: Bwe	Read Replies (1) of 206322

Transocean Inc. and GlobalSantaFe Corporation Agree to Combine Monday July 23, 7:00 am ET biz.yahoo.com Transocean Inc. and GlobalSantaFe Corporation Agree to Combine Monday July 23, 7:00 am ET Merger Highlights: -- Seasoned management and technical staffs of both companies led by Chief Executive Officer Robert L. Long and President and Chief Operating Officer Jon A. Marshall. -- Equal representation on 14-member board, chaired by Robert E. Rose. -- Geographic and asset diversity with 146-rig fleet, including five newbuild units. -- Growth opportunities through an expanded base of assets, services and clients. -- Value accretive to shareholders of both companies. -- $15 billion in cash to shareholders. -- Targets a range of cost-reduction opportunities between $100 million and $150 million a year by 2010. HOUSTON--(BUSINESS WIRE)--Transocean Inc. (NYSE:RIG - News) and GlobalSantaFe Corporation (NYSE:GSF - News) today announced that their boards of directors have unanimously approved a definitive agreement for a merger of equals. Based upon closing prices for each company's ordinary shares as of July 20, 2007, the estimated enterprise value of the combined company would be approximately $53 billion. The combined company, to be known as Transocean Inc., will retain principal offices in Houston and trade on the New York Stock Exchange with the symbol RIG. Under the terms of the agreement, Transocean shareholders will receive $33.03 in cash and 0.6996 shares of the combined company for each share of Transocean they own. GlobalSantaFe shareholders will receive $22.46 in cash and 0.4757 shares of the combined company for each share of GlobalSantaFe they own. The total number of shares outstanding of the combined company after the transaction will be approximately 318 million shares.....

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next