NEW YORK, Nov. 15, 2021 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, has launched an investigation into whether the officers or directors of Noble Corporation breached their fiduciary duties or violated the federal securities laws in connection with the company’s merger with The Drilling Company of 1972 A/S (CSE: DRLCO) (“Maersk Drilling”).
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On November 15, 2021, Noble announced that it had entered into an agreement to merger with Maersk Drilling in a primarily all-stock transaction. Pursuant to the merger agreement, each outstanding Noble share and penny warrant will be converted into the right to receive one share of Topco, a wholly owned subsidiary of Noble, and each issued tranche 1, tranche 2 and tranche 3 warrant will be converted into a warrant to purchase one share of Topco. Additionally, pursuant to the exchange offer, Maersk Drilling shareholders may exchange each Maersk Drilling share for 1.6137 Topco shares and will in lieu of their entitlement to certain Topco shares have the ability to elect cash consideration for up to $1,000 of their Maersk Drilling shares. Upon completion of the transaction, the Maersk Drilling shareholders and Noble shareholders will each own approximately 50% of the outstanding shares of the combined company. The deal is expected to close in mid-2022.
Bragar Eagel & Squire is concerned that Noble’s board of directors oversaw an unfair process and ultimately agreed to an inadequate merger agreement. Accordingly, the firm is investigating all relevant aspects of the deal and is committed to securing the best result possible for Noble’s stockholders.
If you own shares of Noble and are concerned about the proposed merger, or you are interested in learning more about the investigation or your legal rights and remedies, please contact Melissa Fortunato or Alexandra Raymond by email at investigations@bespc.com or telephone at (646) 860-9157, or by filling out this contact form. There is no cost or obligation to you.
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact Information:
Bragar Eagel & Squire, P.C.
Melissa Fortunato, Esq.
Alexandra Raymond, Esq.
investigations@bespc.com
www.bespc.com
