Slaughters and Kirkland among adviser line-up on $12bn drilling merger

Slaughter and May and a line-up of top US law firms have advised on the merger of offshore drilling companies Ensco and Rowan Companies, a deal that creates a combined company valued at $12bn.

Ensco will acquire 100% of Rowan's stock by way of a court-sanctioned scheme of arrangement, with Ensco shareholders owning 60.5% and Rowan's owning 39.5% of the combined business.