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Seadrill places mandatory cash bid for Scorpion Offshore
Tuesday 11 May 2010

Oslo-listed offshore drilling contractor Seadrill (OSL:SDRL) said on Monday it had made a cash NOK36 (USD5.9/EUR4.6) per-share mandatory offer for the remaining shares of Scorpion Offshore (OSL:SCORE).

The offer has received approval from the market watchdog Oslo Bors, Seadrill said.

The bid will run until 7 June 2010.

Following the closing of the offer, Seadrill expects to own any stake in Scorpion between 40.01% and 100%.
Date Published: 11/05/2010
Target: Scorpion Offshore Ltd
Country: Bermuda
Sector: Petroleum/Natural Gas/Coal
Type: Corporate acquisition
Financing: Cash
Status: Bidding
Buyer: SeaDrill Limited