Noble (NE) to Acquire Diamond Offshore, Expand Drilling Fleet

Upon the closure of the transaction, Diamond Offshore shareholders will receive 0.2316 shares of NE with a cash compensation of $5.65 per share of Diamond Offshore's common stock. Diamond Offshore shareholders will own 14.5% of NE's outstanding shares. Per the terms of the agreement, Noble's board will expand to include one member from DO's board of directors. To fund the cash portion of the deal, Noble has secured a $600 million committed bridge financing facility. The acquisition should allow Noble to con ...