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Paragon Announces Agreement to be Acquired by Borr Drilling

Vinson & Elkins advised Paragon Offshore Limited in a Tender Offer Agreement with Borr Drilling Limited, a public limited company incorporated under the laws of Bermuda and listed on the Oslo Stock Exchange, pursuant to which Borr will acquire all of the outstanding shares of Paragon at a purchase price of $42.28 per share.

Paragon is a leading provider of standard specification offshore drilling services.

The V&E corporate team was led by partner Mike Telle with partner Jim Prince, counsel Jay Blackman and associates Nettie Downs and Mariam Boxwala. Also advising were partner David D’Alessandro, senior associate Missy Spohn and associate Steven Oyler; partner Darin Schultz and senior associate James Longhofer; partners Natan Leyva and Lina Dimachkieh and senior associate Mary Alexander; partner Tom Wilson and senior associate Christie Alcala; and partners Neil Imus and Jim Loftis, counsel Sarah Mitchell, senior associate David Smith and associate Ryan Will.

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