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Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of Rowan Companies plc (NYSE: RDC) to Ensco plc (NYSE: ESV). Under the terms of the transaction, Rowan shareholders will receive 2.215 Ensco shares for each Rowan share they own; based on the closing price of Ensco stock on October 5, 2018, this represents an approximate value of $18.78 per share.
The Rowan merger investigation concerns whether the Board of Rowan breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Ensco is underpaying for Rowan shares, thus unlawfully harming Rowan shareholders.
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