June 10 (Reuters) - Noble Corporation Plc ( NBLWF ):

* ANNOUNCES AGREEMENT TO ACQUIRE DIAMOND OFFSHORE DRILLING,

INC.

* NOBLE CORPORATION ( NBLWF ) - DIAMOND SHAREHOLDERS WILL RECEIVE

0.2316

SHARES OF NOBLE, PLUS CASH CONSIDERATION OF $5.65 PER SHARE FOR

EACH SHARE OF DIAMOND STOCK

* UPON CLOSING, DIAMOND SHAREHOLDERS WILL OWN APPROXIMATELY

14.5%

OF NOBLE'S OUTSTANDING SHARES

* DIAMOND SHAREHOLDERS WILL RECEIVE 0.2316 SHARES OF NOBLE,

PLUS

CASH CONSIDERATION OF $5.65 PER SHARE FOR EACH SHARE

* NOBLE BOARD OF DIRECTORS WILL BE EXPANDED TO INCLUDE ONE

MEMBER

FROM DIAMOND BOARD

* IMPLIED CASH AND STOCK CONSIDERATION TO BE RECEIVED BY

DIAMOND

SHAREHOLDERS IS $15.52 PER SHARE

* NOBLE: ITS BOARD OF DIRECTORS HAS APPROVED 25% INCREASE IN

ITS

QUARTERLY DIVIDEND TO $0.50 PER SHARE, STARTING WITH DIVIDEND TO

BE PAID IN Q3 OF 2024.

* TRANSACTION HAS BEEN UNANIMOUSLY APPROVED BY BOARD OF

DIRECTORS

OF EACH COMPANY.

* NOBLE - INTENDS TO FUND CASH PORTION OF TRANSACTION

THROUGH NEW

DEBT FINANCING SECURED THROUGH A $600 MILLION COMMITTED BRIDGE

FINANCING FACILITY

* TRANSACTION IS SIGNIFICANTLY AND IMMEDIATELY ACCRETIVE TO

NOBLE'S FREE CASH FLOW PER SHARE

* DEAL REPRESENTING $600 MILLION TOTAL CASH PAID TO DIAMOND

SHAREHOLDERS ON A FULLY-DILUTED BASIS

* NOBLE EXPECTS TO REALIZE ANNUAL PRE-TAX COST SYNERGIES OF

$100

MILLION, WITH 75% EXPECTED TO BE REALIZED WITHIN ONE YEAR OF

CLOSING

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