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Frontier Drilling has agreed to be acquired by Noble (NYSE: NE). The all-cash deal values the oil drilling company at $2.16 billion and is expected to close by the end of next month. Frontier is being advised by Goldman Sachs and some of its shareholders are being advised by FBR Capital Markets, while Noble is being advised by Simmons & Company International, Barclays Capital and SunTrust Robinson Humphrey. Frontier is currently backed by Riverstone Holdings, The Carlyle Group, DLJ Merchant Banking Partners and Avista Capital Partners.
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