Deals
Seadrill to Buy Out Sevan Drilling Amid Claim Price Too Low
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Seadrill Ltd., held by billionaire John Fredriksen, plans to take over Sevan Drilling ASA and its deepwater oil and gas rigs after acquiring more than half the company’s shares at a price Sevan’s board says is too low.
Seadrill increased its stake to 50.1 percent, buying 116.9 million shares at 3.95 kroner each, and will submit a mandatory offer for outstanding equities, it said today in a statement.