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Discovery Offshore SA's Board Recommends Shareholders to Accept Offer Made by Hercules Offshore Inc's Subsidiary


Tuesday, 16 Jul 2013 02:33am EDT 

Discovery Offshore SA announced that after careful consideration of the terms and conditions of the Offer made by Hercules Discovery Ltd., (the Offeror), indirectly a wholly owned subsidiary of Hercules Offshore, Inc. (Hercules), to acquire all outstanding shares in the company, the Board of Directors of Discovery Offshore has resolved to recommend that shareholders of the company accept the Offer. The price of NOK 15 per share (the Offer Price) values the Company‚Äôs outstanding shares at NOK 982.5 million. The Board finds that the Offer Price fairly reflects the value of the company as assessed by the Board. The Board has received separate fairness opinions from Swedbank First Securities and RS Platou Markets AS in relation to the Offer which both provide that the Offer Price to be offered by the Offeror is fair, from a financial point of view, to the shareholders of the company. 

Company Quote

1.24
-0.135 -9.82%
1:00pm EST