Seadrill (SDRL -0.7%) is set to launch a takeover bid for Asia Offshore Drilling after raising...

|About: Seadrill Limited (SDRL)|By:, SA News Editor

Seadrill (SDRL -0.7%) is set to launch a takeover bid for Asia Offshore Drilling after raising its interest in the owner of three jack-up rigs to 64.23% from 33.75%. An acquisition would strengthen SDRL’s position in the Asian jack-up market as the aging worldwide fleet of such units fuels demand and dayrates for newbuilds.