Ensco Plc (ESV.N) will buy its rival Pride International Inc (PDE.N) for about $7.3 billion in a deal that would create the world's second-largest offshore oil and gas driller, according to the companies. The deal announced on Monday sets the purchase price for Pride's shares at $41.60 apiece, a premium of 21 percent to Friday's closing price. Offshore drillers had been hurt by last year's moratorium on deepwater drilling in the Gulf of Mexico and more stringent regulation on shallow water operations following the BP Plc (BP.L) well blowout that led to the nation's worst-ever maritime oil spill.
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