May 30, 2017 / 12:37 PM / 6 months ago

BRIEF-Ensco Plc to acquire Atwood Oceanics Inc

May 30 (Reuters) - Atwood Oceanics Inc

* Upon deal close,Ensco and Atwood shareholders to own about 69% and 31%, respectively of outstanding shares of Ensco

* Ensco plc to acquire Atwood Oceanics Inc.

* Ensco expects to realize annual pre-tax expense synergies of approximately $65 million for full year 2019 and beyond

* ‍Atwood shareholders will receive 1.60 shares of ensco for each share of atwood common stock for a total value of $10.72 per atwood share​

* Says Definitive merger agreement was unanimously approved by each company’s board of directors

* Says there are no financing conditions for the transaction

* Co, Ensco have entered into a definitive merger agreement under which ensco will acquire atwood in an all-stock transaction

* Says ‍based on anticipated annual savings, planned combination is expected to be accretive to projected discounted cash flows​

* Says ‍estimated enterprise value of combined company is $6.9 billion​

* Atwood oceanics inc says ensco’s executive management will continue with carl trowell as president and chief executive officer

* Says Ensco will continue to be domiciled in UK and senior executive officers will be located in London and Houston

* Definitive merger agreement was unanimously approved by each company’s board of directors

* Combined company will have approximately $3.7 billion in revenue backlog​ Source text for Eikon: Further company coverage:

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