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Discovery Offshore SA Announces Launch of Squeeze Out by Hercules and Its Affiliates Hercules Offshore Inc and Hercules International Holdings Ltd

Thursday, 15 Aug 2013 10:52am EDT 

Discovery Offshore SA announced that following the determination of the final results of the takeover bid made by Hercules (together with its affiliates, Hercules Offshore Inc and Hercules International Holdings Ltd.), it has acquired 98.8% of the capital and voting rights in Discovery Offshore SA. Hercules hereby gives notice of the exercise of its squeeze-out rights to acquire with effect as of end of trading on Oslo Bors August 15, 2013 all the shares in Discovery Offshore SA that were not tendered in connection with the mandatory takeover bid or which were not otherwise controlled by Hercules or any of its affiliates (the "Remaining Discovery Shares"), as soon as the mandatory takeover bid period ended. The squeeze-out will consist of the consideration paid for the shares in Discovery during the mandatory takeover bid, i.e. NOK 15 per remaining share in Discovery. 

Company Quote

-0.5 -16.45%
18 Sep 2014