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LONDON, UK / ACCESSWIRE / March 12, 2018 / Active-Investors.com has just released a free research report on Transocean Ltd (NYSE: RIG). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=RIG as the Company's latest news hit the wire. On March 08, 2018, the Company disclosed that the Company along with Transocean Inc. (jointly referred to as Transocean) has regulatory approval for the supplemental prospectus for compulsory acquisition of all remaining shares of Songa SE. The prospectus is for all those Songa's shares that are not owned by Transocean. Based on this, the Company expects that it will complete the compulsory acquisition of Songa by end of Q1 2018. Register today and get access to over 1,000 Free Research Reports by joining our site below:

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Active-Investors.com is currently working on the research report for Bill Barrett Corporation (NYSE: BBG), which also belongs to the Basic Materials sector as the Company Transocean. Do not miss out and become a member today for free to access this upcoming report at:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Transocean most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

www.active-investors.com/registration-sg/?symbol=RIG

Details of the Supplemental Prospectus

Transocean's supplemental prospectus contains details of the Company's quarterly Fleet Status Report and 10-K filings and received approval from Norway's Financial Supervisory Authority on March 07, 2018. The supplemental prospectus would be an integral part of the prospectus issued by the Company on February 16, 2018.

Norwegian securities laws allow all Songa's shareholders, who subscribed to Transocean's compulsory acquisition offer of shares plus new exchangeable bonds before the publishing of the supplemental prospectus, to have the option to withdraw their subscription before midnight (CET) of March 12, 2018. Shareholders can withdraw their subscriptions by contacting Clarksons Platou Securities AS before the expiry of the deadline.

The subscription period for the compulsory acquisition started from February 20, 2018 and will end on midnight (CET) of March 20, 2018. Once the compulsory acquisition is completed, Transocean plans to delist Songa shares from the Oslo Stock Exchange.

Transocean's compulsory acquisition offer to Songa's shareholders has two options. In the first option, Songa shareholders can choose to receive 0.35724 newly issued consideration shares plus $2.99726 principal amount of new exchangeable bonds against each Songa's share whose value will not exceed NOK 47.50 per Songa's share. The second option is to receive NOK 47.50 in cash for each Songa's share.

Transocean plans to pay cash into the registered bank account of those shareholders who do not chose either of the above options

Backdrop

Transocean had announced the acquisition of Songa in August 2017 via a voluntary offer to the shareholders. In January 2018, Transocean's shareholders approved the deal and the Company closed the acquisition of Songa on January 30, 2018, after acquiring over 97.5% shares of Songa. The Company initiated the process to acquire the remaining outstanding shares of Songa as mandated by the law on February 07, 2018. Accordingly, the Company received the requisite regulatory approval for the compulsory acquisition of the balance outstanding shares of Songa. Eligible shareholders could subscribe to the compulsory acquisition from February 20, 2018, till March 20, 2018. The issue of the supplemental Prospectus brings Transocean closer to completing the acquisition of Songa.

About Songa Offshore SE

Limassol, Cyprus-based Songa is an International Midwater Drilling Contractor with a strong presence in the harsh environment North Atlantic basin. The Company has a fleet of 7 midwater semisubmersibles and is one of the largest drilling services provider for Statoil. The Company is a proven midwater expert providing safe and cost-efficient operations.

About Transocean Ltd

Steinhausen, Switzerland-based Transocean is a leading international provider of offshore contract drilling services for oil and gas wells. It specializes in global offshore drilling business with focus on deepwater and harsh environment drilling services. The Company owns full or partial interest in a fleet of 47 mobile offshore drilling units out of which 27 are ultra-deepwater floaters, 12 are harsh environment floaters. Transocean has two ultra-deepwater drillships under construction or under contract to be constructed midwater floaters. The Company also operates two high-specification jackups that were under drilling contracts when the rigs were sold, and the Company continues to operate these jackups until completion or novation of the drilling contracts. The Company has presence in major locations in five continents.

Stock Performance Snapshot

March 09, 2018 - At Friday's closing bell, Transocean's stock climbed 1.48%, ending the trading session at $9.58.

Volume traded for the day: 12.54 million shares.

Stock performance in the previous six-month period ? up 10.11%

After last Friday's close, Transocean's market cap was at $3.69 billion.

The stock is part of the Basic Materials sector, categorized under the Oil & Gas Drilling & Exploration industry. This sector was up 1.5% at the end of the session.

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