Rowan, Ensco reschedule acquisition deal
HOUSTON -- Rowan Companies plc has announced that it has convened and adjourned the Company's Court and General Meetings. The meetings were previously scheduled to approve resolutions relating to the transaction with Ensco plc entered into on Oct. 7, 2018.
As previously announced, in consultation with its financial and legal advisors, the Rowan Board of Directors continues to review Ensco's revised proposal received on Jan. 14, 2019. The Board intends to take the time it needs to determine the course of action that it believes is in the best interest of Rowan and its shareholders. The Rowan Board will respond to Ensco's proposal in due course following its review.
Following the completion of the Board's review, the Company will announce the date and times at which the Court and General Meetings will be reconvened in order to provide Rowan shareholders with sufficient time to make an informed decision.
Goldman Sachs & Co. LLC is serving as financial advisor and Kirkland & Ellis LLP is serving as legal advisor to the Company.
