Switzerland-based Transocean has agreed to acquire Cyprus-headquartered Ocean Rig in a cash and stock deal valued at around US $2.7 Bn, including Ocean Rig’s net debt. The sum is comprised of 1.6128 newly issued shares of Transocean plus $12.75 in cash for each share of Ocean Rig’s common stock, for a total implied value of $32.28 per Ocean Rig share, based on the closing price on 31 August 2018.
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