When you linking your Twitter Account Market Wire News Trending Stocks news and your Portfolio Stocks News will automatically tweet from your Twitter account.
Be alerted of any news about your stocks and see what other stocks are trending.
ORIG - Transocean: Mixed Emotions About The Ocean Rig Deal
Ocean Rig UDW Inc.
On Tuesday, September 4, 2018, offshore drilling giant Transocean Ltd. (RIG) announced its intent to acquire beleaguered ultra-deepwater drilling specialist Ocean Rig (ORIG) in a deal that was originally valued at $2.7 billion. The deal is valued somewhat less now due to Transocean's stock declining on the news. Such behavior is typical however, as the stock of an acquiring company will usually decline following a merger announcement while the stock of the company being acquired will increase. This is the basis of an investment strategy known as merger arbitrage. However, what