Transocean shareholders OK Ocean Rig acquisition

|About: Transocean Ltd. (RIG)|By:, SA News Editor

Transocean (RIG +2.6%) says its shareholders overwhelmingly approved the acquisition of Ocean Rig UDW (ORIG +1.5%) and expects to close the deal "in the coming days."

RIG offered 1.6128 newly issued shares plus $12.75 in cash for each ORIG common share, for a total implied value of $32.28/share; RIG and ORIG shareholders will own ~79% and 21%, respectively, of the combined company.

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