Deal Snapshot
PROXY ADVISOR EGAN-JONES JOINS GLASS LEWIS IN RECOMMENDING ENSCO SHAREHOLDERS APPROVE ATWOOD OCEANICS MERGER
Monday 02 October 2017

US-based proxy advisory Egan-Jones Rating Company has joined Glass Lewis in recommending that shareholders of UK-based offshore drilling services company Ensco plc (NYSE: ESV) approve the company's deal to acquire Texas, US-based offshore drilling provider Atwood Oceanics, Inc. (NYSE: ATW) at the company's 5 October shareholder meeting,
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: 02/10/2017
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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