cash consideration

Seahawk Drilling (Nasdaq: HAWK) 39.0% LOWER; Hercules Offshore (Nasdaq: HERO) announced that they have entered into an agreement to acquire 20 jackup rigs located in the Gulf of Mexico and related assets from Seahawk Drilling, Inc.

Consideration on the deal is 22.3 million shares of Hercules Offshore common stock and cash consideration of $25 million.

The amount of Hercules Offshore common shares issued will be proportionally reduced at closing, based on a fixed price of $3.36 per share.

The stock was also downgraded at Wells Fargo and Global Hunter.

Sometimes, when acquiring a company, Google puts out multiple press releases and blog posts, sharing financial details and all other sorts of information.  Sometimes the search giant just mentions the purchase.  Today, though, Google had to disclose a few details for the sake of satisfying the SEC.

NUCRYST Pharmaceuticals Corp. (NASDAQ: NCST) 69% HIGHER; announced today the execution of a definitive agreement with subsidiaries of Smith & Nephew plc.

(NYSE: SNN) for the sale to Smith & Nephew of substantially all of Nucryst's operations and assets including all rights to its proprietary nanocrystalline silver technology for cash consideration of $21 million plus the value of working capital and subject to certain adjustments.