NE - Noble Corporation To Acquire Diamond Offshore Drilling In $15.52/Share Deal; Enhances Dividend Payouts By 25% | Benzinga
Diamond Offshore Drilling, Inc. (NYSE:DO) shares are trading higher after the company disclosed that it signed a definitive agreement to be acquired by Noble Corporation plc (NYSE:NE) in a stock-plus-cash transaction.
The implied cash and stock consideration for Diamond shareholders is $15.52 per share, reflecting an 11.4% premium over Diamond’s closing share price on June 7, 2024.
As per the deal, Diamond shareholders will receive 0.2316 shares of Noble plus $5.65 in cash for each Diamond share.
The transaction expected to close by the first quarter of 2025, subject to customary closing conditions.
Once the deal is completed, Diamond shareholders will hold approximately 14.5% of Noble’s outstanding shares.
Dividend Boost: Additionally, Noble’s Board of Directors has approved a 25% increase in its quarterly dividend to $0.50 per ...