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Stock Market & Financial Investment News

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July 11, 2014
16:38 EDTNENoble Corp. board approves spin-off of Paragon Offshore
Noble Corporation announced that its board of directors has approved the spin-off of Paragon Offshore, a wholly-owned subsidiary of Noble, through a pro rata distribution of an aggregate of 84,753,393 Paragon ordinary shares to the holders of Noble ordinary shares. Noble shareholders will receive one ordinary share of Paragon for every three ordinary shares of Noble held at 5:00 p.m., New York City time, on the record date of the distribution, July 23. No fractional Paragon shares will be issued; however, shareholders entitled to receive a fractional Paragon share in the distribution will instead receive the cash value of that fractional share. Subject to the satisfaction of the conditions to the spin-off, the distribution is expected to occur on August 1. Following the distribution of the Paragon ordinary shares, Paragon will be a separate, publicly traded company, and Noble will not retain any ownership interest in Paragon. Paragon has applied to list its ordinary shares on the New York Stock Exchange under the symbol "PGN."
News For NE From The Last 14 Days
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July 25, 2014
18:00 EDTNEParagon Offshore Ltd. to replace Intevac in S&P 600 as of 8/1 close
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July 15, 2014
10:00 EDTNEOn The Fly: Analyst Upgrade Summary
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06:41 EDTNENoble Corp. upgraded to Market Perform from Underperform at BMO Capital
BMO upgraded the offshore drillers to Market Perform from Underperform citing valuation, reduced expectations, and a slow resumption in activity. Price target remains $33.

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