Deal Snapshot
OFFSHORE DRILLING FIRMS ENSCO, ATWOOD OCEANICS CLEAR US ANTITRUST HURDLE IN MERGER
Friday 30 June 2017

UK-based offshore drilling services company Ensco plc (NYSE: ESV) and Texas, US-based offshore drilling provider Atwood Oceanics, Inc. (NYSE: ATW) have received notice from the Department of Justice and the Federal Trade Commission granting early termination of the waiting period under the US Hart-Scott-Rodino Antitrust Improvements Act of 1976, with respect to their pending merger, the companies said.
This deal was announced on 30 May 2017. Under the deal, Ensco will acquire Atwood in a stock transaction. Under terms of the merger agreement, Atwood shareholders will receive 1.60 shares of Ensco for each share of Atwood common stock for a total value of USD 10.72 per Atwood share based on Ensco's closing share price of USD 6.70 on 26 May 2017.


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Details
Date Published: 30/06/2017
Target: Atwood Oceanics, Inc
Country: USA
Deal Size: 6.9bn (USD)
Sector: Petroleum/Natural Gas/Coal
Type: Corporate acquisition
Financing: Stock
Status: Agreed
Vendor:
Buyer: Ensco plc
Buyer Advisor: Morgan Stanley and Co , DNB Markets , Latham Watkins LLP
Comment:


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