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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: SargeK who wrote (38814)3/3/1999 2:30:00 PM
From: Big Dog  Read Replies (3) of 95453
 
FWIW, which may be not much, here is an edited version of a message I was sent today from someone "in the industry".

start message

Recently the rumor has been about Global and Transocean trying to
negotiate a deal. It was supposedly pretty close to consumation until
the very end, and it fell through because neither wanted to give up
control.

Then somebody fairly high up with XXX, who owns a good bit of
Global stock, said that Transocean made an offer(not sure about the
dollar amount), but it was rejected.

end of message

I bet every driller has tried to buy every other driller, but no one wants to lose control, therefore a Mexican standoff, ala Sarge.

There WILL be some more consolidation. Count on it.

big
loosbrock.com
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