Noble to Buy Diamond Offshore As Oil and Gas Mergers Continue

Noble Corporation is set to buy Diamond Offshore Drilling in a stock-and-cash deal valued at $1.6 billion as the oil and gas mergers continue with the oilfield services sector.  Noble and Diamond Offshore said on Monday that they had entered into a definitive merger agreement under which Noble will acquire Diamond in a stock plus cash deal. As part of the transaction, Diamond shareholders will receive 0.2316 shares of Noble, plus cash consideration of $5.65 per share for each share of Diamond stock. The implied cash and stock consideration…