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S&P's to Add Transocean to Index

This Site:en.yinlu.net Source:en.yinlu.net Writer: Time:2007-11-22

NEW YORK (AP) -- Standard & Poor's said Wednesday that Transocean Inc. will replace the company by the same name in the S&P 500 on Monday, after the offshore drilling contractor bought GlobalSantaFe Corp.

GlobalSantaFe said Wednesday its planned $53 billion combination with Transocean Inc. received approval from regulators in the Cayman Islands.

The Houston-based companies provide offshore contract drilling services for oil and gas wells.

The company will be added to the S&P 500 GICS (Global Industry Classification Standard) Oil & Gas Drilling Sub-Industry index.

Shares of Transocean fell 24 cents to close at $121.78.

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