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Monday, February 7, 2011

Oil driller EnsCo nears $7bln-plus Pride deal-WSJ, (NYSE: ESV), (NYSE: PDE)

Offshore oil driller EnSco Plc (ESV.N) is nearing a deal to buy rival Pride International Inc (PDE.N), the Wall Street Journal said on Monday, citing people familiar with the matter. The deal is likely to value Pride's equity at $7 billion or more, based on its market capitalisation of about $6 billion, the WSJ said. A deal could be announced as early as Monday, it said, adding that representatives of the two firms could not immediately be reached for comment.(Reporting by Quentin Webb; editing by Douwe Miedema)

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