Hercules gets green light to acquire jackups
Hercules Offshore Inc. will acquire three jackup drilling rigs from Transocean Inc.
Houston -- Hercules Offshore Inc. will acquire three jackup drilling rigs from Transocean Inc.
The acquisition of theAdriatic III and the High Island I and related equipment has closed for $220 million. The acquisition of the High Island VIII and related equipment for $100 million is expected to close upon completion of its current contract in May 2008.
The US Department of Justice and the Federal Trade Commission have granted early termination of the government's pre-merger antitrust review of the transaction under the Hart-Scott-Rodino Antitrust Improvements Act of 1976.