Today, the best deal in the energy sector was the one left undone.
That's not to say that Transocean
Rig availability in the deepwater category has been very tight over the past few years. This has led explorers like Chevron
Even with the ordering of new vessels by the likes of Transocean and Atwood Oceanics
Now, back to that deal that didn't happen. Shareholders today voted down the proposed merger between Grey Wolf
I've followed every twist and turn of this saga, from the puzzling prelude to the three-time rejection of rival suitor Precision Drilling Trust
The story isn't over. Precision's offer of $10 per share still stands, and Grey Wolf has announced that it has hired a banker to help evaluate strategic alternatives. Will Grey Wolf finally succumb to its Canadian suitor? We'll have to just stay tuned.