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Rowan reaches new merger deal after Ensco ups offer
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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