SeaDrill rises as it closes Aquadrill deal and discloses Elliott Management stake

SeaDrill Ltd.
SDRL,
-0.36%
stock is up 2.2% in premarket trades after it closed its acquisition of Aquadrill, which was backed by activist shareholder Elliott Management. As part of the deal, Elliott Management received about 9.3% of SeaDrill’s stock, according to filings. SeaDrill announced the all-stock deal with a value of $958 million on Dec. 22.