The board of directors of Aker has approved the NOK26.50 ($4.87) per share offer made by Switzerland-based Transocean.
The offer price indicates an equity market capitalization of about NOK7.93bn ($1.43bn), assuming an exchange rate of NOK5.53 to $1, which represents a 62% premium to Aker’s 30-day average price of NOK16.39 ($3) per share.
According to Transocean, the transaction will be funded using existing cash balances and debt facilities.
Aker now operates two harsh environment, ultra-deepwater, sixth-generation semi-submersible drilling rigs currently on long-term contract to Statoil and Det Norske in Norway.
