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Article: SONAT OFFSHORE DRILLING SUBMITS WRITTEN BID FOR TRANSOCEAN

Article from:
Hart's Petroleum Finance Week
Article date:
April 29, 1996
Copyright

Houston offshore drilling contractor Sonat Offshore Drilling Inc. formally proposed a merger with Norwegian competitor Transocean A.S. The offer, which is 80% stock and 20% cash, contemplates formation of a holding company to effect the combination. Transocean shareholders would receive $5.34 cash and 0.4004 shares of Sonat ...

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