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VAL - Seadrill: A Look At Restructuring Plan And Its Impact On The Industry
Valspar Corporation
Seadrill announced its restructuring plan which will reduce its liabilities by approximately $5 billion.
Shareholders will get 0.25% of new equity if the plan is approved.
Seadrill will emerge as a smaller but healthier competitor, which will have the opportunity to bid aggressively in order to increase utilization of its rigs.