Sevan Drilling struggling against John Fredriksen takeover

The senior executives of Sevan Drilling have no intentions of selling their shares to Norwegian Seadrill, as they feel that the offer from Fredriksen's drilling company is too low.

Norwegian oil billionaire John Fredriksen won't be able to snatch up total ownership of its small competitor Sevan Drilling without a fight.

Both CEO Scott Kerr and CFO Jon Willmann stand firm in their rejection of the offer: they have no intentions of accepting an offer of USD 0.66 per share of Sevan Drilling, which Norwegian John Fredriksen and Seadrill is in the process of acquiring.

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