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

By:
on Jun 10, 2024
Listen
  • 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.

Follow Invezz on Telegram, Twitter, and Google News for instant updates >

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

Are you looking for signals & alerts from pro-traders? Sign-up to Invezz Signals™ for FREE. Takes 2 mins.

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

Copy link to section

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:

This acquisition enables Noble to continue our journey of delivering superior innovation and value to a broad range of the leading offshore operators across the world.

Expanded fleet and capabilities

Copy link to section

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.

USA USD Mergers & Acquisitions Stock Market