Deals
Rowan Is Said in Talks to Acquire Maersk's Drilling Business
- Maersk’s drilling business may be valued at about $4 billion
- Deal would reflect increased optimism about oil-price outlook
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Oilfield-services company Rowan Cos. is in talks to acquire the drilling business of A.P. Moller-Maersk A/S, which is selling energy assets to focus on transportation, people familiar with the matter said.
The drilling business assets could be valued at about $4 billion, although the valuation could change as the talks proceed, the people said, asking not to be identified as the information is private. Rowan, an offshore contract driller, has a market value of $1.4 billion, down from $5.6 billion in 2011, when oil sold for more than $100 a barrel.