Maersk Drilling will unlikely be sold to Rowan
Maersk Drilling, the Danish drilling rig operator, will unlikely be sold to Texas-based Rowan, according to Borsen.This comes after last week's report in Bloomberg that Rowan is eyeing Maersk Drilling.
The Danish business daily reported, citing an analyst at Clarksons Platou Securities, that Rowan would have to issue new shares in order to acquire Maersk Drilling.
The paper wrote however that a deal involving shares for payment would make Maersk the main owner of Rowans and therefore not a suitable deal for Maersk.
The paper reported further that Rowan would therefore have to borrow funds to purchase Maersk Drilling but the bidder's debt would stand in the way.
The item also pointed out that other market competitors such as UK based Noble also has significant debts while Norwegian Seadrill is being restructured and TransOcean and Ensco have already conducted larger acquisitions recently.