Groupe Forex Officially Launches Takeover Bid for All Corporation Regionale d’Investissement Amisk Class A Shares
December 30th, 2007 | by Administrator |The bid is contingent on at least 66 2/3 percent of Amisk Class A shares (after dilution and excluding shares held by FOREX, insiders and persons acting in concert with them) being validly deposited under the offer. A number of other conditions are also attached to the bid.
CONTACT: Le Groupe Forex Inc.
Unocal and Transocean Sedco Forex use internal benchmarking to develop a detailed plan for each well to achieve optimal drilling results. Drill site supervisors and contractor personnel aboard the Discoverer Spirit receive the tools and authority they need in order to perform and an incentive to plan rigorously and execute with high efficiency.
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FOREX considers its offer highly advantageous for Amisk shareholders, who stand to achieve a 32 percent gain, with no tax implications, on the price of Amisk shares as at the date the bid was first announced. A further advantage is that FOREX shares will give Amisk shareholders greater access to share liquidity while retaining an interest in the development of Panneaux Chambord inc., Amisk’s prime asset.
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Transocean Sedco Forex Inc. is the world’s largest offshore drilling contractor with more than 170 full or partially owned, chartered and managed mobile offshore drilling units, inland barges and other assets utilized in the support of offshore drilling activities worldwide. The company’s mobile offshore drilling fleet is considered one of the most modern and versatile in the world with 50 semisubmersible drilling rigs (including two in the final stages of construction), 16 drillships and 55 jackup drilling rigs. Transocean Sedco Forex Inc. specializes in technically demanding segments of the offshore drilling business, including industry-leading positions in deepwater and harsh environment drilling services. With a current equity market capitalization in excess of $15 billion, the company’s ordinary shares are listed on the New York Stock Exchange under the symbol “RIG.”
Blowout prevention equipment was installed and tested after the May 2 spudding, and drilling operations are under way.
The exploration well, on Unocal’s Trident prospect in Alaminos Canyon block 903, surpasses the previous claimed industry record of drilling in 9,157 feet of water set offshore Gabon earlier this year.
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