Seahawk Asset Sale To Hercules Gets Antitrust OK

Law360, New York (March 31, 2011, 5:44 PM EDT) -- The Federal Trade Commission on Wednesday granted an early termination of its antitrust review of Hercules Offshore Inc.’s offer to buy $100 million in assets from bankrupt Seahawk Drilling Inc.

By granting an early termination request, the FTC closed the waiting period for the transaction mandated by the Hart-Scott-Rodino Act without taking any enforcement action.

Hercules announced last month that it would buy nearly all of Seahawk’s assets, including 20 jack-up rigs in the U.S. Gulf of Mexico.

In exchange for the assets, Hercules will give...
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