Transocean in merger talks with rival Seadrill, Bloomberg News reports

Noble

23/10/2024 22:33

Oct 23 (Reuters) - Offshore drilling provider Transocean
 RIGN.S  is in talks to merge with rival Seadrill Ltd  SDRL.N ,
Bloomberg News reported on Wednesday, citing people familiar
with the matter. 
    The companies are discussing the potential structure of the
combination, it said. 
    However, a final decision has not been made and the
companies could choose to remain independent, Bloomberg
reported. 
    Seadrill and Transocean did not immediately respond to
Reuters requests for comment.
    U.S.-listed shares of Switzerland-based Transocean rose 4.1%
after the bell while Seadrill gained 10.3%. Seadrill had a
market capitalization of about $2.42 billion as of Wednesday,
while Transocean was valued at $3.60 billion. 
    Earlier this year, offshore rig contractor Noble  NE.N 
agreed to buy Diamond Offshore Drilling in a $1.59 billion deal,
amid rising interest among energy producers to boost their
international and offshore drilling inventories.


 (Reporting by Sourasis Bose in Bengaluru; Editing by Sriraj
Kalluvila)
 ((Sourasis.Bose@thomsonreuters.com;))