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Transocean Closes $1.43B Aker Purchase

Wed, 10/05/2011 - 6:25am
Manufacturing.net

NEW YORK (AP) -- Offshore drilling contractor Transocean said on Tuesday that it has finished its acquisition of Aker Drilling for about $1.43 billion.

Transocean paid 26.50 kroner per share ($4.50) to buy all of Aker Drilling ASA, based in Norway.

Switzerland-based Transocean had announced the deal in August, saying it would strengthen its position in Norway. On Tuesday, Transocean said it was gaining about $1 billion in orders remaining to be filled as well as two Aker drilling rigs and two drillships under construction in Korea.

Shares of Transocean fell 85 cents to close at $45.06 on the New York Stock Exchange.

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