Lots of M&A activity in the offshore drilling space. Another driller, Diamond Offshore was acquired by Noble Corp. Icon Offshore is still cheap at RM1.12
Imagine this, Noble Corp acquired DO for RM5 billion. Icon Offshore is only 700 M in terms of market cap and has a much higher rig utilisation rate. No-brainer trade
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supermanhitam
218 posts
Posted by supermanhitam > 2024-06-10 14:41 | Report Abuse
look and see soon