COMPANY NEWS: M&A activity heats up within oil services sector

05/27/2002
Mergers within the oil and gas services sector began heating up again.Ensco International Inc., Dallas, said it will acquire Houston-based Chiles Offshore Inc. for $578 million, based on Ensco's May 14 closing price. Ensco also will assume $140 million in debt. Both companies' boards have approved the transaction.Italy's Saipem SPA, a unit of ENI SPA, has entered into a definitive agreement with Bouygues Construction SA to acquire the company's 51.1% majority stake in Bouygues Offshore SA in a deal valued at close to 1 billion euros.Key Energy Services Inc., Midland, Tex., the world's largest well-servicing firm, signed a definitive merger agreement with Q Services Inc...
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