Seadrill falls short in bid for Sevan Drilling

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

Seadrill (SDRL) has been thwarted in an initial effort to acquire Sevan Drilling (SDRNF.OB) after gaining only a handful of shareholder acceptances under a mandatory offer for the company, Upstream reports.

SDRL had launched a mandatory offer for all outstanding shares in Sevan following its June announcement that it had increased its ownership of the deepwater rig rival to 50.1%.

SDRL +0.3% premarket.