ENSCO PLC (NYSE:ESV) has submitted an investor presentation with the U.S. SEC, which can be seen on the Investor Relations section of company’s site at www.enscoplc.com. The company’s Board of Directors consistently recommends that shareholders poll “FOR” the deal.
The presentation indicates Ensco’s track record of wise financial management and latest contract wins across the globe. It even reiterates how company’s pending deal with Atwood Oceanics, Inc. (NYSE:ATW) offers Ensco a unique opportunity to renew and enhance its fleet at a major juncture in the market recovery cycle, while offering an apparent path to increase shareholder value.
The combination of Atwood and Ensco will create a financially robust international offshore drilling leader with numerous fleet capabilities, a diverse customer base and an international footprint spanning six continents with businesses in almost every major shallow- and deep-water basin.
Among other factors, the presentation highlights that the Atwood deal is the next logical development in Ensco’s plan to improve the firm’s position as a Tier-1 offshore driller, positioning Ensco to enhance long-term shareholder value.
This is shown by underway wise financial management and capital deployment by company’s leadership and the Board, who have a history of finalizing robust strategic capital decisions to well position Ensco through various phases of the market cycle; the company’s targeted investments in innovation and technology that enhance the firm’s systems, intellectual property and processes, providing Ensco a competitive benefit in the offshore recovery.
It is further demonstrated by company’s continuous drive toward industry-leading operational excellence and safety, which positions it to continue delivering top levels of performance to consumers; the enhancement of company’s fleet with the addition of Atwood’s premium assets at lucrative, below-market values, which enhances company’s ability to fulfill increasing consumer demand for high-specification assets. There are notable shareholder value creation prospects from the acquisition, which is anticipated to result in double-digit accretion for Ensco shareholders.