Transocean Ltd. plans to acquire Ocean Rig UDW Inc., boosting Transocean’s position in the ultradeepwater and harsh-environment drilling markets. Expected to close in early 2019, the transaction involves cash and stock worth an estimated $2.7 billion, including Ocean Rig’s debt. The transaction adds nine high-specification ultradeepwater drillships, two harsh-environment semisubmersibles, and two high-specification, ultradeepwater drillships currently under construction.

Source: News