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Noble Corporation plc Message Board

  • btdarb btdarb Jul 20, 2013 9:53 AM Flag

    CEO Comment

    Anybody else notice this comment in the latest Earnings Release?

    "We continue to work through the complicated steps required to potentially spin off a portion of our fleet in what would be a significant transformative event for Noble"

    I don't recall seeing any reference to a spin off in past Releases; wonder what they're up to?

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    • Found some additional info in the transcript from the Earnings Release conference call; looks like NE is seriously contemplating a spin off of their "standard specification assets". They are awaiting a ruling from the IRS on the tax consequences (if any) of such a transaction, and if favorable they will seek the Board's approval to proceed. It appears they're trying to unlock some additional value for shareholders, which is always a good thing....

    • BY----Do not believe any definitive announcements have been made, but rumors galore. Some knowledgeable poster here have heard of a potential split of the Company. Unsure of the reasons or logic but have read from some posters it makes sense for the shareholders. I know it makes sense for High management as a new Company needs a new CEO, CFO etc etc etc.

      Sentiment: Buy

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