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Seadrill closes offer for Scorpion, owns 98.8%
Monday 19 July 2010

Oslo-listed offshore drilling contractor Seadrill (OSL:SDRL) said on Monday its mandatory offer of NOK40.50 (USD6.4/EUR5) per share for Scorpion (OSL:SCORE) was accepted by shareholders owning 48.7% in the company, giving it a total ownership of 98.8%.

The offer expired on Friday.

Seadrill will settle the Scorpion shares tendered to its offer on 21 July 2010 and then take the company private.

Scorpion is active in building, owning, operating, leasing and chartering jack-up offshore drilling rigs.
Date Published: 19/07/2010
Target: Scorpion Offshore Ltd
Country: Bermuda
Sector: Petroleum/Natural Gas/Coal, Machinery/Engineering
Type: P2P
Status: Closed
Buyer: SeaDrill Limited