An investigation on behalf of investors of Rowan Companies plc (NYSE: RDC) in connection with the proposed takeover was announced.
San Diego, CA -- (SBWIRE) -- 10/15/2018 -- An investigation was announced concerning the takeover of Rowan Companies plc. by Ensco plc is unfair to NYSE: RDC stockholders.
Investors who purchased shares of Rowan Companies plc (NYSE: RDC) and currently hold any of those (NYSE: RDC shares have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of Rowan Companies plc breached their fiduciary duties owed to NYSE: RDC investors in connection with the proposed acquisition.
Rowan Companies plc provides offshore oil and gas contract drilling services to the oil and gas industry. The company operates through Deepwater, Jack-ups, and ARO segments.
On October 8, 2018, Ensco plc (NYSE: ESV) and Rowan Companies plc (NYSE: RDC) jointly announced that the companies have entered into a transaction agreement under which Rowan will combine with Ensco in an all-stock transaction. Under the terms of the transaction agreement, Rowan shareholders will receive 2.215 Ensco shares for each Rowan share, or a value of approximately $18.78 per share.
However, given that at least one analyst has set the high target price for NYSE: RDC shares at $30.00 per share, the investigation concerns whether the offer is unfair to Rowan Companies plc (NYSE: RDC stockholders. More specifically, the investigation concerns whether the Rowan Companies plc (NYSE: RDC Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.
Those who are current investors in Rowan Companies plc (NYSE: RDC) shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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About The Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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