Kirkland Advises Diamond Offshore Drilling on Sale to Noble for $1.6 Billion
Kirkland & Ellis counsels Diamond Offshore Drilling, Inc. on its definitive merger agreement to be acquired by Noble Corporation plc (NYSE: NE, CSE: NOBLE) in a stock and cash transaction valued at $1.6 billion (excluding debt).
As part of the transaction, Diamond shareholders will receive 0.2316 shares of Noble, plus cash consideration of $5.65 per share for each share of Diamond stock, representing an 11.4% premium to closing stock prices on June 7, 2024. Upon closing, Diamond shareholders will own approximately 14.5% of Noble’s outstanding shares.
Read the transaction’s press release
The Kirkland team was led by corporate partners Sean Wheeler, Debbie Yee and Camille Walker; debt finance partner Rachael Lichman; capital markets partners Julian Seiguer and Atma Kabad; tax partners David Wheat and Bill Dong; antitrust & competition partners Ian John, Chuck Boyars, Thomas Wilson and Sion Davies; and executive compensation partners Rob Fowler and Stephanie Jeane.
