Ensco to buy Pride for $7.1 bil (Investor's Business Daily)
The oil chisel consort agreed to take Pride Int'l (NYSE:PDE - News) to create the world's No. 2 offshore drilling company. Ensco (NYSE:ESV - News) will provide Pride shareholders 0.4778 of a care in Ensco nonnegative $15.60 in cash for apiece Pride care they hold. Ensco dropped 4.2% to 52.13 on the news, valuing Pride at 40.51 a shares. Pride rose 15.7% to 39.80. Ensco sees the care lifting 2012 EPS by more than 10%.
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