Trico Makes $810 million Bid for DeepOcean

Last week Trico, which only relisted in 2005 after undergo­ing a restructuring, announced the acquisition of 51.5% of Oslo listed DeepOcean and the intent to offer NOK32 per share for all remaining shares, valuing the company at $810 million. The offer price represents a 28% premium to DeepOcean’s May 15 closing price of NOK 25 per share, an amount that can be taken as a sign of strong interest by Trico in making a complete acquisition. Correspondingly DeepOcean’s management and board have recommended the offer to their shareholders.

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