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Offshore Drilling Merger May Pose Antitrust Concerns

Law360 (July 24, 2007, 12:00 AM EDT) -- The proposed merger announced Monday of the two largest offshore oil and gas drilling companies in the world, Transocean Inc. and GlobalSantaFe Corp., will be met with close scrutiny and potential objections from competition regulators, attorneys say.

The proposed acquisition, announced Monday, will create a $53 billion company that will reportedly be more than twice the size of its next largest competitor based on rig size. However, even that may not draw the eye of the U.S. Federal Trade Commission or the U.S. Department of Justice’s...
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