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ESV - Ensco Rowan Changes Name To Valaris But The Rationale Is Vague
Ensco plc Class A
Ensco Rowan (ESV) has been frequently in the news recently. The beginning of June was marked by a strange proposal by the company’s shareholder Luminus Management which proposed borrowing $2.5 billion to pay them as a special dividend to shareholders. Closer to the end of June, real-life news was shared: Ensco Rowan announced a cash tender offer to purchase up to $600 million of its notes. This was the first major step of Ensco Rowan as a combined company. However, as it turned out, Ensco Rowan had additional ideas about first steps as