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Rowan reaches new merger deal after Ensco ups offer

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Rowan Companies agreed on Jan. 29 to new terms for its merger with ENSCO, at terms that would give Rowan shareholders 24.2% more Ensco shares than under their October agreement. The upgrade to 2.750 shares of Ensco for each share of Rowan from 2.215:1 came after a wave of shareholder criticism of the earlier deal.After proxy advisory company Institutional Shareholder  Services announced its opposition to the original offer, Ensco sweetened its offer on Jan.......
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