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R B Falcon Corp

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BUSINESS
August 22, 2000 | Reuters
Transocean Sedco Forex Inc., already the world's biggest offshore oil-drilling contractor, said it agreed to buy R&B Falcon Corp. in a $5.3-billion stock deal that will leave it towering over its rivals and make it the dominant deep-water driller. Under the agreement, R&B Falcon stockholders will receive 0.5 share of a newly issued Transocean Sedco share for each R&B Falcon share. Transocean will also assume $3 billion in R&B Falcon debt.
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BUSINESS
August 22, 2000 | Reuters
Transocean Sedco Forex Inc., already the world's biggest offshore oil-drilling contractor, said it agreed to buy R&B Falcon Corp. in a $5.3-billion stock deal that will leave it towering over its rivals and make it the dominant deep-water driller. Under the agreement, R&B Falcon stockholders will receive 0.5 share of a newly issued Transocean Sedco share for each R&B Falcon share. Transocean will also assume $3 billion in R&B Falcon debt.
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BUSINESS
July 12, 1997 | Reuters
Falcon Drilling Co. and Reading & Bates Corp. agreed to merge in a $2.5-billion stock transaction, a move that would create a company that operates the world's largest fleet of offshore oil rigs. The planned merger comes just as oil exploration is increasing in the Gulf of Mexico. The combined company, to be renamed R&B Falcon Corp.
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