Ensco and Rowan to merge in all-stock transaction

Ensco plc and Rowan Companies plc entered into a definitive agreement to merge in an all-stock transaction. Rowan shareholders will receive 2.215 Ensco shares per Rowan share, with Ensco shareholders owning approximately 60.5% of the combined entity.

“Ensco plc and Rowan Companies plc have entered into a definitive transaction agreement under which Rowan will combine with Ensco in an all-stock transaction.”offshore-mag.com

• 2 sources
• offshore-mag.comEnsco, Rowan to merge | Offshore MagazineOct 8, 2018
• energynetwork.business.blogEnsco and Rowan merger to create world’s biggest offshore drilling company by fleet size – Energy NetworkenntOct 15, 2018

Summarized from public sources; check the original articles before acting on it.