Saudi competition authority approves Ensco, Rowan merger

Ensco plc has received clearance from the General Authority for Competition in the Kingdom of Saudi Arabia for its pending combination with Rowan Companies plc.

Offshore staff

LONDONEnsco plc has received clearance from the General Authority for Competition in the Kingdom of Saudi Arabia for its pending combination with Rowan Companies plc.

Shareholders of both Ensco and Rowan have 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 in April, remains subject to court approval pursuant to a UK court-sanctioned scheme of arrangement and other customary closing conditions.

03/29/2019

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