Noble Corporation acquires Diamond Offshore Drilling in $1.6-billion deal

Noble will pay $5.65 per share, representing an 11.4% premium over Diamond Offshore's recent share price.
Post-acquisition, Diamond Offshore shareholders will own approximately 14.5% of Noble's shares.
The acquisition will add four 7th generation drillships and a high-spec semisubmersible rig to Noble's fleet.

Noble Corporation plc announced on Monday that it will acquire Diamond Offshore Drilling Inc. in a deal valued at $1.6 billion.

Noble will pay $5.65 per share, representing an 11.4% premium over Diamond Offshore's recent share price.

The transaction is set to close by the first quarter of 2025.

Strategic benefits of the acquisition

Post-acquisition, Diamond Offshore shareholders will own approximately 14.5% of Noble's shares. Noble CEO Robert Eifler highlighted that the acquisition would enhance Noble's position in the offshore drilling market.

Noble CEO Robert Eifler states:

Expanded fleet and capabilities

The acquisition will add significant assets to Noble's fleet, including four 7th generation drillships and a high-spec harsh environment semisubmersible rig.

These additions are expected to strengthen Noble's service offerings and operational capabilities in challenging offshore environments.