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France wants UN Security Council blessing for international naval patrols empowered to hunt down pirates, even in territorial waters. What do you think?

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Marine Log

May 14, 2008

DryShips makes offer for Ocean Rig

George Economou's DryShips has made its expected offer for the remaining shares in offshore drilling contractor Ocean Rig ASA.

The Oslo Stock Exchange has approved an offer document in which Primelead Limited a 100 percent subsidiary of DryShips Inc. makes an offer for the Ocean Rig shares of NOK 45 per share in cash

The offer period is from and including May 14, 2008 to June 11, 2008 at 16.30 CET

Manager: DnB NOR Markets

The acquisition is in line with DryShips strategy of creating a drilling operation to capitalize on the shortage of premium ultra deep water rigs that would be spun off to DryShips shareholders within a year from now and listed in the U.S. (see earlier report)

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