Simmons & Company Sees Ensco plc (ESV) and Rowan Cos. (RDC) as Compelling Combo
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Wells Fargo Upgrades ENSCO International Plc (ESV) to Outperform
October 9, 2018 4:29 AM EDTWells Fargo analyst Judson Bailey upgraded ENSCO International Plc (NYSE: ESV) from Market Perform to Outperform with a price target of $11.00 (from $7.50).
The analyst upgrades the name citing the valuation and FCF accretion from the RDC merger. The analyst believes the... More
Pre-Open Movers 10/08: (PBR) (TTPH) (ARNC) Higher; (ALT) (GLUU) (IRBT) Lower (more...)
October 8, 2018 9:16 AM EDTToday's Pre-Open Movers
Altimmune, Inc. (Nasdaq: ALT) -26.5% LOWER; has entered into a purchase agreement with several institutional investors for the purchase of common units and pre-funded units for a combined total of 4,629,630 units in a registered direct offering, for expected gross proceeds of approximately $25 million before placement agent fees and other offering expenses payable by Altimmune.
Petrobras (NYSE: PBR) 14% HIGHER; Far-right candidate, Jair Bolsonaro, won the first round in Brazilian elections. Shares... More
Ensco (ESV) and Rowan Companies (RDC) Agree to Combine in All-stock Transaction
October 8, 2018 6:51 AM EDTEnsco plc (NYSE: ESV) and Rowan Companies plc (NYSE: RDC) jointly announced today that the companies have entered into a definitive transaction agreement under which Rowan will combine with Ensco in an all-stock transaction. The definitive transaction agreement was unanimously approved by each company's board of directors. The Saudi Aramco partner to the ARO Drilling joint venture has consented to the combination between Rowan and Ensco.
Under the terms of the transaction agreement, Rowan shareholders will receive 2.215 Ensco shares for each Rowan share. Upon closing, Ensco and Rowan... More
