Ensco plc Receives Clearance from the General Authority for Competition in the Kingdom of Saudi Arabia for Pending Combinatio...
27 Marzo 2019 - 3:00PM
Business Wire
Ensco plc (NYSE: ESV) (“Ensco”) today announced that it has
received clearance from the General Authority for Competition in
the Kingdom of Saudi Arabia for its pending combination with Rowan
Companies plc (NYSE: RDC) (“Rowan”).
As disclosed on February 21, 2019, shareholders of both Ensco
and Rowan voted to approve the pending all-stock transaction under
which Rowan shareholders will receive 2.750 Ensco shares for each
Rowan share they own. Completion of the transaction, which is
expected to occur in April, remains subject to court approval
pursuant to a UK court-sanctioned scheme of arrangement and other
customary closing conditions.
Morgan Stanley & Co. LLC is lead financial advisor to Ensco.
HSBC Securities (USA) Inc. and Citigroup Global Markets Inc. also
provided financial advice to Ensco. Ensco’s legal advisors are
Gibson, Dunn & Crutcher LLP and Slaughter and May.
About Ensco
Ensco plc (NYSE: ESV) brings energy to the world as a global
provider of offshore drilling services to the petroleum industry.
For more than 30 years, the company has focused on operating safely
and going beyond customer expectations. Operating one of the newest
ultra-deepwater rig fleets and a leading premium jackup fleet,
Ensco has a major presence in the most strategic offshore basins
across six continents. Ensco plc is an English limited company
(England No. 7023598) with its corporate headquarters located at 6
Chesterfield Gardens, London W1J 5BQ. To learn more, visit our
website at www.enscoplc.com.
Forward-Looking Statements
Statements included in this document regarding the proposed
transaction between Ensco and Rowan, including closing conditions
of the proposed transaction and other statements that are not
historical facts, are forward-looking statements (including within
the meaning of Section 21E of the Securities Exchange Act of 1934,
as amended, and Section 27A of the Securities Act of 1933, as
amended (the "Securities Act")). Forward-looking statements include
words or phrases such as "anticipate," "believe," "contemplate,"
"estimate," "expect," "intend," "plan," "project," "could," "may,"
"might," "should," "will" and words and phrases of similar import.
These statements involve risks and uncertainties including, but not
limited to, actions by regulatory authorities, rating agencies or
other third parties, actions by the respective companies' security
holders, costs and difficulties related to integration of Ensco and
Rowan, delays, costs and difficulties related to the transaction,
market conditions, and Ensco's financial results and performance
following the completion of the transaction, satisfaction of
closing conditions, ability to repay debt and timing thereof,
availability and terms of any financing and other factors detailed
in the risk factors section and elsewhere in Ensco's and Rowan's
Annual Report on Form 10-K for the year ended December 31, 2017 and
their respective other filings with the Securities and Exchange
Commission (the "SEC"), which are available on the SEC's website at
www.sec.gov. Should one or more of these risks or uncertainties
materialize (or the other consequences of such a development
worsen), or should underlying assumptions prove incorrect, actual
outcomes may vary materially from those forecasted or expected. All
information in this document is as of today. Except as required by
law, both Ensco and Rowan disclaim any intention or obligation to
update publicly or revise such statements, whether as a result of
new information, future events or otherwise.
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Investor & Media Contacts
Nick Georgas, 713-430-4607Senior Director – Investor Relations
and Communications
Tim Richardson, 713-430-4490Manager – Investor Relations
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