HAMILTON, Bermuda -- Seadrill says it has acquired further shares in Scorpion Offshore, taking its total holding in the drilling contractor to 50.11%.
In light of this, Seadrill says it plans a new mandatory offer this week for all Scorpion’s remaining shares, as stipulated by the Norwegian Securities Trading Act, at a price per share of NOK 40.50 ($6.305).
Seadrill expects Scorpion’s current directors to resign, and calls on the board to appoint a new team, reflecting Seadrill’s majority ownership.
Alf C. Thorkildsen, CEO of Seadrill Management, said: "The acquisition of Scorpion, when completed, creates the largest modern jackup rig fleet in the world with a total of 14 units built after 2006. It will increase our earnings and strengthen our position as the leading operator of modern high quality drilling equipment."
Seadrill claims control of Scorpion
Seadrill says it has acquired further shares in Scorpion Offshore, taking its total holding in the drilling contractor to 50.11%.