HOUSTON, March 14 /PRNewswire-FirstCall/ -- Hercules Offshore, Inc. today announced that the U.S. Department of Justice and the Federal Trade Commission have granted early termination of the government's pre-merger antitrust review of the transaction under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 in connection with the previously announced agreement to acquire three jackup drilling rigs from Transocean Inc.
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The acquisition of the Adriatic III and the High Island I and related equipment has closed for an approximate cost of $220 million. The acquisition of the High Island VIII and related equipment is expected to close upon completion of its current contract in May 2008 for approximately $100 million.
Headquartered in Houston, Hercules Offshore, Inc. operates a fleet of 35 jackup rigs, 27 barge rigs, 65 liftboats, three submersible rigs, one platform rig and a fleet of marine support vessels, and has operations in nine different countries on four continents. The company offers a range of services to oil and gas producers to meet their needs during drilling, well service, platform inspection, maintenance, and decommissioning operations in shallow waters.
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