Diamond Offshore Drilling Announces Merger with Noble Corporation

Diamond Offshore Drilling Inc (DO) has issued an announcement.

Diamond Offshore Drilling has agreed to merge with Noble Corporation in a two-step deal, first becoming a Noble subsidiary, then merging with another subsidiary. Diamond Offshore stockholders will receive a mix of cash and Noble stock, with provisions for warrants and equity awards. The merger hinges on shareholder approval, regulatory clearances, and other customary conditions. Noble can receive a termination fee under certain circumstances if the merger doesn’t proceed. The deal was announced with a joint press release and further detailed in a conference call and investor presentation.

Learn more about DO stock on TipRanks’ Stock Analysis page.