Aug 26, 2011
Transocean (NYSE:RIG) announced after receiving clearance by the Oslo Stock Exchange, that it launched its all cash voluntary offer for 100% of the shares of Aker Drilling for 26.50 Kroner per share. The offer has been made on an unconditional basis and with settlement guaranteed by a financial institution.
Transocean has a potential upside of 51.7% based on a current price of $51.47 and an average consensus analyst price target of $78.07.
Transocean is currently below its 50-day moving average (MA) of $59.22 and below its 200-day MA of $70.28.
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