Scorpion Offshore - 500 Beiträge pro Seite

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27.05.2010 09:40
UPDATE 1-Ensco bids for Scorpion, trumps Seadrill offer


OSLO, May 27 (Reuters) - U.S. oil and gas drilling contractor Ensco International launched a recommended tender offer aimed at winning control of Scorpion Offshore , trumping an earlier bid from Seadrill.

Ensco, the fourth-largest U.S.-listed rig contractor, said on Thursday it was offering to buy 19 percent of Scorpion at 39.50 crowns per share, valuing the company at $546 million.

Ensco also said it had options to buy 31 percent of Scorpion at the same price, meaning a successful tender would give it control over 50 percent of the company, at which point it might act to buy the remaining shares at 39.50 crowns.

Scorpion shares were up 6.7 percent at 40 crowns in early trading, suggesting investors thought a higher offer may emerge.

Earlier this month, Seadrill, controlled by Norwegian shipping tycoon John Fredriksen and which already owns more than 40 percent of Scorpion, launched an offer of 36 crowns per share, with the world's No.2 deepwater-driller saying it wanted to try to get to 100 percent in Scorpion.

Seadrill chief executive Alf Thorkildsen would not comment on Thursday on the potential for it to raise its bid. 'I've just received this news,' he told Reuters, adding it was natural that Scorpion would attract interest.

Scorpion shareholders, including members of senior management and directors, representing 31.2 percent of the shares said they would accept a full offer, if made by Ensco, and granted it an option to buy their shares at 39.50 crowns.

While oilfield services deals have hogged much of the attention in the past few quarters, bankers and investors are increasingly scanning the M&A horizon for offshore drilling rigs as that industry steadily pulls out of a slump.

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28.05.2010 14:33
UPDATE 2-Seadrill raises offer in Scorpion bidding war


By Richard Solem

OSLO, May 28 (Reuters) - Oslo-listed oil rig company Seadrill raised its offer price for shares in Scorpion Offshore, trumping a bid from U.S. oil and gas drilling contractor Ensco International.

Ensco launched a recommended tender offer on Thursday aimed at winning control of Scorpion Offshore, beating an earlier bid from Seadrill which owns more than 40 percent of Scorpion.

Seadrill's new all-cash offer on Friday valued Scorpion at $560 million.

'Pareto has received an order from (Seadrill) to acquire 10.1 percent of the outstanding share in (Scorpion) at a price per share of NOK 40.00 payable in cash,' brokerage Pareto Securities said in a statement.

The offer stands until Friday at 1630 GMT, it added.

Seadrill said it had no other comment but a spokesman for Pareto said a successful order for the 10.1 percent would trigger a mandatory offer for all shares.

While oilfield services deals have hogged much of the attention in the past few quarters, bankers and investors are increasingly scanning the M&A horizon for offshore drilling rigs as that industry steadily pulls out of a slump.

Earlier this month, Seadrill, controlled by Norwegian shipping tycoon John Fredriksen, launched an offer of 36 crowns per share, with the world's No.2 deepwater-driller saying it wanted to try to get to 100 percent in Scorpion.

Ensco, the fourth-largest U.S.-listed rig contractor, said on Thursday it was offering to buy 19 percent of Scorpion at 39.50 crowns per share, valuing the company at $546 million.

Ensco's offer also expires on Friday at 1630 GMT.

Ensco also said it had options to buy 31 percent of Scorpion at the same price, meaning a successful tender would give it control over 50 percent of the company, at which point it might act to buy the remaining shares at 39.50 crowns.

'We believe that our NOK 39.50 per share offer to Scorpion shareholders is an attractive price,' Ensco Chief executive Dan Rabun said in a statement.

Scorpion shares cut losses to stand 0.7 percent lower at 40 crowns at 1214 GMT3, versus a flat Oslo benchmark index . Seadrill shares were flat at 138 crowns while Ensco shares had not yet traded in New York.

Seadrill raised $322 million in a private placement in April to finance the offer for Scorpion.

Seadrill also last month loaned $240 million to Scorpion, which has seven so-called ultra premium jack-up rigs, that operate in water depths less than 300 feet.

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09.07.2010 09:11
Scorpion gets new CEO, CFO after Seadrill offer

OSLO, July 9 (Reuters) - The top management of rig firm Scorpion Offshore has been replaced in the wake of an offer by Seadrill for its shares.

In May, rig firm Seadrill outbid rival Ensco International for the control of the Oslo-listed owner of jack-up drilling rigs.

John C. Cole, Scorpion's President and CEO, and Mark L. Mey, the firm's Vice-President and CFO, have tendered their resignations and are no longer with the company, Scorpion said in a statement.

'The resignations are in connection with the pending mandatory offer issued by Seadrill to acquire the shares of Scorpion,' the firm said late on Thursday.

They will be replaced by Tim Juran, who becomes President and CEO, and Rune Magnus Lundetrae as Vice-President and CFO. Both are employed by Seadrill.

Seadrill currently owns 50.11 percent of Scorpion Offshore's shares after a bidding war with Ensco International.

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OSLO, Sept 20 (Reuters) - SeaDrill Ltd:

* compulsory acquisition of remaining shares in Scorpion Offshore Ltd

* Says will compensate the minority shareholders whose shares are compulsory

acquired with NOK40.50 per share