Acquirer: Ensco plc and Rowan Companies plc (U.K.)
Acquired: Ensco plc and Rowan Companies plc (U.K.)
Value: $12 billion
Industry Tags: Oil & Gas
On October 7, 2018, Ensco plc, “a global offshore contract drilling company,” and Rowan Companies plc, “a global provider of offshore contract drilling services to the oil and gas industry,” “entered into a Transaction Agreement . . . providing for the combination of the two companies” in a merger-of-equals transaction. (Rowan Companies plc Schedule 14A, No. 23, 2018, SEC Filing; see Rowan Companies plc Form 8-K, Oct. 9, 2018, SEC Filing.) The transaction was conditioned on CFIUS Clearance. (See Section 6.1(h), Transaction Agreement, Rowan Companies plc Form 8-K, Ex-2.1, Oct. 9, 2018, SEC Filing.) “On February 26, 2019, [Rowan Companies PLC] received written notice from the Committee on Foreign Investment in the United States (“CFIUS”) that it has completed its review of the Transaction and has determined that there are no unresolved national security concerns with respect to such Transaction.” (Rowan Companies plc Form 8-K, Feb. 27, 2019, SEC Filing.)
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