ADES makes improved offer for Shelf Drilling

Saudi oil and gas driller ADES has made an improved offer to buy all issued and outstanding shares of Dubai-based Shelf Drilling. ADES and Shelf Drilling agreed on revised terms of the proposed merger whereby the cash consideration is increased to NOK 18.50 ($1.89) per share. This revised cash consideration has received irrevocable pre-commitments, with …

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