The deal for Transocean Partners will also see the latter taken off the New York Stock Exchange.
Transocean will offer 1.1427 shares per unit in Transocean Partners, which is a 15% premium above the latter’s closing share price last Friday.
The deal, which needs just over 50% approval from Transocean Partners’ unitholders, should see Transocean issues 22.7 million shares, with the deal set to close in the fourth quarter.
Houston-based
