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Shares of Transocean (RIG +2.6%) are stable today after the company prices its 26M share...

Shares of Transocean (RIG +2.6%) are stable today after the company prices its 26M share secondary offering at $40.50, just a 2.7% discount to Tuesday's close. The drilling giant is using the funds to help refinance its recent acquisition of Norwegian rival Aker Drilling ASA.
Comments (2)
  • Stone Fox Capital
    , contributor
    Comments (6085) | Send Message
     
    sorta. Raised the same amount as the $1B dividend. Bad financial management all around.

     

    http://seekingalpha.co...
    30 Nov 2011, 01:40 PM Reply Like
  • April May
    , contributor
    Comments (549) | Send Message
     
    Management just greatly diluted earnings and value -- no wonder investors began dumping their shares. Had I known in advance, I would have too.

     

    I have held RIG for quite some time, and was NOT notified of this, yet alone been told there was a vote on the matter. Poor management.
    1 Dec 2011, 02:32 PM Reply Like
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