Hercules Offshore, Inc. Signs Definitive Merger Agreement to Acquire TODCO.

0 Comments | M2 Presswire, March, 2007

M2 PRESSWIRE-19 March 2007-Afternoon Movers: Hercules Offshore, Inc. Signs Definitive Merger Agreement to Acquire TODCO(C)1994-2007 M2 COMMUNICATIONS LTD RDATE:19032007 TODCO (NYSE:THE) is a leading provider of contract oil and gas drilling services with the largest fleet in the shallow water U.S.

Gulf of Mexico and along the U.S. Gulf Coast. TODCO's common stock is traded on the New York Stock Exchange under the symbol "THE". At the time of writing shares are up 17 to $38.60 with over 7.7 million in volume. This momentum comes as Hercules Offshore, Inc. ("Hercules Offshore", "the Company" Nasdaq: HERO) and TODCO (NYSE: THE) announced that they have entered into a definitive merger agreement pursuant to which Hercules Offshore will acquire 100 of the...