LONDON & HOUSTON--(BUSINESS WIRE)--
Ensco plc (NYSE: ESV) and Pride International, Inc. (NYSE: PDE) today
jointly announced that they have received notice from the Department of
Justice and the Federal Trade Commission granting early termination of
the waiting period under the U.S. Hart-Scott-Rodino Antitrust
Improvements Act of 1976, as amended (HSR Act), with respect to the
proposed merger previously announced on 7 February 2011 pursuant to
which Ensco will acquire Pride in a cash and stock transaction.
Accordingly, the merger closing condition with respect to the expiration
or termination of the waiting period under the HSR Act has been
satisfied. Completion of the merger remains subject to satisfaction or
waiver of certain other conditions, including approval by the
shareholders of both Ensco and Pride.
About Ensco
Ensco plc (NYSE: ESV) brings energy to the world as a global provider of
offshore drilling services to the petroleum industry. With a fleet of
ultra-deepwater semisubmersible and premium jackup drilling rigs, Ensco
serves customers with high-quality equipment, a well-trained workforce
and a strong record of safety and reliability. To learn more about
Ensco, please visit our website at www.enscoplc.com.
Ensco plc is an English limited company (England No. 7023598) with its
registered office and corporate headquarters located at 6 Chesterfield
Gardens, London W1J 5BQ.
About Pride
Pride International, Inc., headquartered in Houston, Texas, operates a
fleet of 26 mobile offshore drilling units, consisting primarily of
floating rigs (semisubmersibles and drillships) that address deepwater
drilling programs around the world. The company has one of the youngest
and most technologically advanced deepwater drilling fleets in the
offshore industry, with five drillships, including three delivered since
the beginning of 2010, six semisubmersible rigs and two managed
deepwater rigs. Two additional deepwater drillships are currently under
construction with expected deliveries in 2011 and 2013. The company’s
fleet also includes six other semisubmersible rigs and seven jackup
rigs. Pride International’s floating rig fleet operates primarily
offshore Brazil and West Africa where the company has a long-standing
presence.
Additional Information
In connection with the proposed merger, Ensco has filed a registration
statement including a preliminary joint proxy statement/prospectus of
Ensco and Pride with the SEC. INVESTORS AND SECURITY HOLDERS OF ENSCO
AND PRIDE ARE ADVISED TO CAREFULLY READ THE REGISTRATION STATEMENT AND
PRELIMINARY JOINT PROXY STATEMENT/PROSPECTUS (INCLUDING ALL AMENDMENTS
AND SUPPLEMENTS TO IT) BECAUSE IT CONTAINS IMPORTANT INFORMATION ABOUT
THE TRANSACTION, THE PARTIES TO THE TRANSACTION AND THE RISKS ASSOCIATED
WITH THE TRANSACTION. A definitive joint proxy statement/prospectus will
be sent to security holders of Ensco and Pride seeking their approval of
the proposed transaction. Investors and security holders may obtain a
free copy of the definitive joint proxy statement/prospectus (when
available) and other relevant documents filed by Ensco and Pride with
the SEC from the SEC’s website at www.sec.gov.
Security holders and other interested parties may also obtain, without
charge, a copy of the definitive joint proxy statement/prospectus (when
available) and other relevant documents by directing a request by mail
or telephone to either Investor Relations, Ensco plc, 500 N. Akard,
Suite 4300, Dallas, Texas 75201, telephone 214-397-3015, or Investor
Relations, Pride International, Inc., 5847 San Felipe, Suite 3300,
Houston, Texas 77057, telephone 713-789-1400. Copies of the documents
filed by Ensco with the SEC are available free of charge on Ensco’s
website at www.enscoplc.com
under the tab “Investors.” Copies of the documents filed by Pride with
the SEC are available free of charge on Pride’s website at www.prideinternational.com
under the tab “Investor Relations.” Security holders may also read and
copy any reports, statements and other information filed with the SEC at
the SEC public reference room at 100 F Street N.E., Room 1580,
Washington, D.C. 20549. Please call the SEC at (800) 732-0330 or visit
the SEC’s website for further information on its public reference room.
Ensco and Pride and their respective directors, executive officers and
certain other members of management may be deemed to be participants in
the solicitation of proxies from their respective security holders with
respect to the transaction. Information about these persons is set forth
in Ensco’s proxy statement relating to its 2010 General Meeting of
Shareholders and Pride’s proxy statement relating to its 2010 Annual
Meeting of Stockholders, as filed with the SEC on 5 April 2010 and 1
April 2010, respectively, and subsequent statements of changes in
beneficial ownership on file with the SEC. Security holders and
investors may obtain additional information regarding the interests of
such persons, which may be different than those of the respective
companies’ security holders generally, by reading the registration
statement, definitive joint proxy statement/prospectus (when available)
and other relevant documents regarding the transaction filed by Ensco
and Pride with the SEC.
Forward-Looking Statements
Statements regarding planned shipyard projects and expected shipyard
deliveries, as well as any other statements that are not historical
facts in this press release are forward-looking statements within the
meaning of the Securities Act of 1933 and the Securities Exchange Act of
1934. These forward-looking statements are subject to certain risks,
uncertainties and assumptions identified above or as disclosed from time
to time in filings with the Securities and Exchange Commission. As a
result of these factors, actual results may differ materially from those
indicated or implied by such forward-looking statements.
Source: Ensco plc