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How will Diamond Offshore's share price change by end of 2024 after acquisition announcement?
5
Resolution / Starting Odds
Up by more than 20% • 33%
Up by 10-20% • 34%
Up by less than 10% • 33%
Stock market data from financial news services like Bloomberg, Yahoo Finance
Story
Noble to Acquire Diamond Offshore in $1.6 Billion, $15.52/Share Deal
Jun 10, 2024, 11:14 AM
Noble Corporation, the world's biggest offshore oil-rig contractor by market value, has agreed to acquire Diamond Offshore Drilling in a deal valued at $1.6 billion, or $15.52 per share. The acquisition will be funded through a combination of $5.65 in cash plus 0.2316 shares of Noble for each share of Diamond Offshore. Noble plans to finance the cash portion of the deal with a new secured financing of $600 million. The combined fleet of the merged entity will include 28 floaters and 13 jack-ups. Additionally, Noble has announced that the deal will enhance dividend payouts by 25%. Diamond Offshore shares rose 8.0% in pre-market trading following the announcement.
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