Early termination of HSR for Rowan and Ensco merger

Source: press release, 20 November 2018

‘Rowan Reliance’, an R-Class ultra-deepwater drillship
‘Rowan Reliance’, an R-Class ultra-deepwater drillship (photo: Rowan Companies)

Rowan Companies plc and Ensco plc have jointly announced that they have received notice from the US 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, as amended (HSR Act), with respect to the proposed combination previously announced on October 8, 2018 pursuant to which Rowan and Ensco will combine.

Accordingly, the closing condition with respect to the expiration or termination of the waiting period under the HSR Act has been satisfied.

Completion of the transaction remains subject to satisfaction or waiver of certain other conditions, including approval by the shareholders of both Rowan and Ensco along with other regulatory and court approvals.