GlobeNewsWire
29 May 2026, 19:45 UTC · 2h ago
Source · https://www.globenewswire.com/news-release/2026/05/29/3303797/0/en/Vantage-Drilling-International-Announces-Agreement-to-Merge-with-Eldorado-Drilling-AS.html
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Eldorado Drilling AS has entered into an agreement to acquire Vantage Drilling International for US$19.00 per share in cash. — A definitive cash acquisition agreement typically causes the target company's stock price to align closely with the offer price.
+0.80The merger implies an total equity value of approximately US$257.6 million for Vantage Drilling. — Establishes the valuation benchmark for the transaction and the scale of the acquisition.
+0.30The Vantage Drilling board of directors has unanimously approved and recommended the merger. — Unanimous board approval reduces the likelihood of internal opposition and increases the probability of the deal closing.
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A shareholder meeting to approve the merger is scheduled for June 18, 2026, with expected completion in Q3 2026. — Provides the timeline for the transition from announcement to the actual delisting and payout.
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The company is being acquired at a cash price of $19.00 per share, a transaction unanimously approved by its board as fair and in the best interests of shareholders.
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