Noble Corporation plc (NE) has signed a merger agreement to acquire a rival drilling firm, Diamond Offshore Drilling (DO) , in a cash and stock transaction valued at $1.59 billion. Following the acquisition, Noble is expected to operate a giant fleet of 41 rigs, including 28 floaters and 13 jack-ups. The combined backlog for Noble is likely to be worth$6.5 billion. Upon the closure of the transaction, Diamond Offshore shareholders will receive 0.2316 shares of NE with a cash compensation of $5.65 per share ...