Offshore drillers Ensco plc and Rowan Companies plc announced yesterday that the companies will combine in an all-stock transaction. The agreement was unanimously approved by each company’s board of directors. The companies anticipate that the transaction will close during the first half of 2019.
Under agreement, Rowan shareholders will receive 2.215 Ensco shares for each Rowan share. Upon closing, Ensco and Rowan shareholders will own approximately 60.5% and 39.5%, respectively, of the...
https://www.workboat.com/news/offshore/offshore-drillers-ensco-and-rowan-in-12-billion-merger/