Bloomberg News: Transocean and Seadrill in merger talks

Bloomberg News reported Wednesday that offshore drilling provider Transocean was in merger talks with Seadrill Ltd. The report came from people who were familiar with the situation.

It said that the companies are currently discussing the possible structure of a merger.

Bloomberg reported that a final decision had not yet been made, and the companies may choose to remain independently.

Seadrill or Transocean didn't immediately respond to comments.

Transocean shares listed in the U.S. rose by 4.1% following the bell, while Seadrill grew by 10.3%. Seadrill's market capitalization was $2.42 billion on Wednesday. Transocean had a value of $3.60 billion.

In early 2014, Noble, an offshore rig contractor, agreed to purchase Diamond Offshore Drilling for $1.59 billion, as energy producers sought to increase their offshore and international drilling inventories. (Reporting and editing by Sriraj Kalluvila in Bengaluru)

(source: Reuters)