Noble To Acquire Diamond Offshore In A Cash And Stock Transaction Valued At $600M, Representing An 11.4% Premium
Portfolio Pulse from Benzinga Newsdesk
Noble Corporation (NE) is set to acquire Diamond Offshore (DO) in a cash and stock transaction valued at $600 million, representing an 11.4% premium. Diamond shareholders will receive 0.2316 Noble shares and $5.65 per share in cash for each Diamond share. The transaction is expected to close by Q1 2025, pending regulatory and shareholder approvals.
June 10, 2024 | 7:05 am
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Diamond Offshore (DO) is being acquired by Noble Corporation (NE) in a $600 million cash and stock transaction. Diamond shareholders will receive a premium of 11.4%. The deal is expected to close by Q1 2025, pending approvals.
The acquisition by Noble Corporation offers Diamond Offshore shareholders a premium of 11.4%, which is likely to positively impact Diamond's stock price in the short term as the market reacts to the premium offer.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Noble Corporation (NE) is acquiring Diamond Offshore (DO) in a $600 million cash and stock transaction. The deal includes a premium of 11.4% and is expected to close by Q1 2025, pending approvals.
The acquisition of Diamond Offshore by Noble Corporation is a significant move that includes a premium and is expected to close by Q1 2025. This could positively impact Noble's stock price in the short term as it expands its market presence.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100