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Seadrill extends tender offer for Scorpion Offshore
Monday 07 June 2010

Oslo-listed offshore service provider Seadrill Ltd (OSL:SDRL) announced Friday an extension of its tender offer for Bermuda-based offshore drilling rigs manufacturer Scorpion Offshore (OSL:SCORE) due to a tepid response from shareholders.

Seadrill, which holds currently 50.11% of Scorpion stock, is offering NOK40.50 (USD6.09/EUR5.09) per share in cash to buy the remaining units. The bid price is higher than the original offered one of NOK36 apiece.

The tender is running now until 16 July.

Date Published: 07/06/2010
Target: Scorpion Offshore Ltd
Country: Bermuda
Sector: Petroleum/Natural Gas/Coal
Type: Corporate acquisition
Financing: Cash
Status: Bidding
Buyer: Seadrill Ltd