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Stock Market & Financial Investment News

News Breaks
August 4, 2014
07:32 EDTPGN, NENoble completes spin-off of outstanding shares of Paragon Offshore
Noble (NE) announced that it has completed the spin-off of all of the outstanding shares of Paragon Offshore (PGN), which owns most of Noble's standard specification drilling business. As a result, Noble and Paragon are now two separate, publicly-traded companies. On August 1 Noble distributed to its shareholders one ordinary share of Paragon for every three ordinary shares of Noble held. No fractional Paragon shares were issued; however, shareholders who would otherwise have been entitled to receive a fractional Paragon share in the distribution instead received cash in lieu of that fractional share. Paragon ordinary shares will begin "regular-way" trading under the symbol "PGN" on the New York Stock Exchange on August 4. Noble ordinary shares will continue to trade on the NYSE under the symbol "NE."
News For NE;PGN From The Last 14 Days
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November 28, 2014
07:17 EDTNENoble Corporation volatility elevated at WTI trades below $70
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November 24, 2014
09:07 EDTNENoble Corp. weakness creates favorable entry point, says Argus
Argus believes that the recent decline in Noble Corp has created a favorable entry point, as the firm remains upbeat about the company's long-term earnings power.
November 18, 2014
10:54 EDTNEStocks with call strike movement; GNW NE
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November 17, 2014
10:03 EDTPGNParagon Offshore to host conference call
Conference call to discuss the acquisition of shares in Prospector Offshore Drilling is being held on November 17 at 11:30 am. Webcast Link
05:19 EDTPGNParagon acquires majority stake in Prospector Offshore for $2.13 per share
Paragon Offshore reported that it has acquired 52.75M shares of Prospector Offshore Drilling S.A., a publicly traded offshore drilling company listed on Oslo Axess. Paragon acquired the shares at a price of 14.50 NOK per share, or $2.13 per share based on the exchange rate of one United States dollar to 6.80 NOK. Following this transaction, Paragon owns a total of 52.75M shares of Prospector, equal to 55.8% of the outstanding shares of Prospector. Paragon intends to launch a mandatory tender offer for the remaining outstanding shares of Prospector within four weeks as mandated by applicable Luxembourg and Norwegian law. In addition, Paragon will request the board of directors of Prospector to convene a general meeting of the Prospector shareholders to elect three new Paragon designated directors to the Prospector board.

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