drbubb Posted June 15, 2019 Report Share Posted June 15, 2019 ESV: the Antics of Ensco, since the Rowan merger ESV has dropped like a stone... since the merger with Rowan I bought Calls yesterday ESV / Ensco Plc The Ensco Rowan plc (NYSE: ESV) (“EnscoRowan” or the “Company”) board of directors received a proposal from Luminus Management, LLC (“Luminus”) dated June 12, 2019 (“the Proposal”). EnscoRowan’s board of directors welcomes investor perspectives on matters such as the Company’s capital structure and the return of capital to shareholders, and will evaluate the Proposal. The Company proactively evaluates and manages its capital structure to execute its strategic priorities and deliver value for shareholders. To achieve these objectives, the Company has significant financial flexibility within its capital structure, including the ability to issue debt that would be structurally senior to the Company’s currently outstanding debt on both an unsecured and secured basis === Ensco Rowan investor seeks $2.5 billion dividend payout - Reuters 2 days ago - Deep-sea oil driller Ensco Rowan's investor Luminus Management LLC on Wednesday urged the company to declare a special dividend of ... June 12 (Reuters) - Deep-sea oil driller Ensco Rowan’s investor Luminus Management LLC on Wednesday urged the company to declare a special dividend of $2.5 billion to its shareholders, sending its shares down 6.3%. Luminus, the investment advisor to funds and accounts that own 4.5% stake in Ensco Rowan, said it is disappointed by the stock’s performance both before, and since, the Ensco-Rowan merger. Luminus urged the company to launch a priority guaranteed bond offering to fund the dividend. Ensco Rowan’s shares fell to their lowest in more than 26 years on Wednesday. Luminus Management is an investment management firm founded in 2002 with offices in New York, NY and Houston, TX. The firm focuses on a low net, long/short, relative value oriented strategy that invests opportunistically across the capital structure of companies within the broader energy ecosystem. Link to comment Share on other sites More sharing options...
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