Oilfield services firm Noble Corporation plc (NE) entered into a cash and stock deal on June 10, 2024, to acquire its rival Diamond Offshore Drilling, Inc. (DO) for about $2.15 billion.
As per the terms of the agreement, Diamond Offshore shareholders will receive 0.2316 shares of Noble, plus a cash consideration of $5.65 per share for each share of Diamond Offshore stock, representing a premium of 11.41% from the stock’s last close.