Ocean Rig UDW Inc. Shareholders Approve Merger with Transocean Ltd.
OCEAN RIG UDW (ORIG)
US:NASDAQ Investor Relations:
ocean-rig.irwebpage.com/ir.html
Company Research
Source: GlobeNewswire
GRAND CAYMAN, Cayman Islands, Nov. 29, 2018 (GLOBE NEWSWIRE) -- Ocean Rig UDW Inc. (NASDAQ:ORIG), (“Ocean Rig” or the “Company”), an international contractor of offshore deepwater drilling services, today announced that its shareholders have approved the merger of the Company with Transocean Ltd. (“Transocean”) by which, upon the closing of the merger, Ocean Rig will become a wholly-owned subsidiary of Transocean (the merger to form the “Combined Entity”). Holders of 86.76% of the outstanding shares of Ocean Rig voted, of which 99.99% approved the merger. Key Transaction Terms At the effective time of the merger, each issued and outstanding share of Ocean Rig immediately prior to such time (other than certain Ocean Rig shares that will be canceled as set forth in the merger agreement), will be canceled and automatically converted into the right to receive 1.6128 newly issued shares of Transocean and $12.75 in cash.Transocean as the Combined Entity will remain listed on NYSE u
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