USA: Vantage Drilling Rejects Take-over Proposal


Vantage Drilling Company  received an unsolicited proposal to acquire all the outstanding shares of the Company at a premium to the current market price.

The proposal was subject to due diligence and requested an exclusivity period. In addition, the proposal was conditioned on the Company abandoning its contemplated senior notes and equity offerings.

After careful consideration, including consultation with its outside financial and legal advisors, the Company determined that it is in the best interests of the Company and its shareholders to proceed with the financings in light of its business plan and financing needs. Accordingly, the Company has rejected the unsolicited proposal.

About Vantage

Vantage’s primary business is to contract drilling units, related equipment and work crews primarily on a dayrate basis to drill oil and natural gas wells. Vantage also provides construction supervision services for, and will operate and manage, drilling units owned by others. Through its fleet of eight owned and managed drilling units, Vantage is a provider of offshore contract drilling services globally to major, national and large independent oil and natural gas companies.

Source:iStockAnalyst, July 27, 2010:

Share this article

Follow Offshore Energy Today

One thought on “USA: Vantage Drilling Rejects Take-over Proposal”

Comments are closed.

Events>

<< Jul 2019 >>
MTWTFSS
1 2 3 4 5 6 7
8 9 10 11 12 13 14
15 16 17 18 19 20 21
22 23 24 25 26 27 28
29 30 31 1 2 3 4

Uganda International Oil and Gas Summit 2019

Uganda International Oil & Gas Summit will once again examine the industry’s developments…

read more >

8th OIL & GAS AFRICA 2019 CONFERENCE

OIL & GAS AFRICA is one of the most prime regional & international Oil and Gas conferences in East Africa…

read more >

Gas Indonesia Summit 2019

Gas Indonesia Summit & Exhibition is returning for the fourth edition in Jakarta…

read more >

Shanghai Int Petrochemical and Offshore Oil & Gas and Chemical Industry Technology and Equipment Exhibition 2019

cippe Shanghai has attracts both…

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply