This excerpt taken from the RIG DEF 14A filed Nov 3, 2008.
The Transaction requires the affirmative vote of a majority in number of the holders of the Transocean-Cayman ordinary shares present and voting on the proposal at the meeting, whether in person or by proxy, representing 75% or more in value of the ordinary shares present and voting on the proposal at the meeting, whether in person or by proxy. The adjournment proposal requires the affirmative vote of holders of at least a majority of the Transocean-Cayman shares present in person or by proxy at the meeting and entitled to vote on the matter. See The MeetingRecord Date; Voting Rights; Vote Required for Approval. Our board of directors has unanimously approved the Transaction and recommends that shareholders vote FOR approval of both of the proposals.