Atwood Oceanics, Inc. (NYSE:ATW) reported that its shareholders have approved the Plan of Merger and deal dated May 29, 2017, which offers for the acquisition by ENSCO PLC (NYSE:ESV) of all of the due shares of Atwood. Over 98% of votes cast and 70% of shares outstanding were in favor of the deal. The firms expect the closing of the deal will occur within one business day, based on the completion of customary closing conditions.
Atwood is a key offshore drilling contractor active into the segment of the drilling and completion of developmental and exploratory wells for the international oil and gas industry. It has nine mobile offshore drilling units while two ultra-deepwater drillships are under construction. The firm was established in 1968 and is based in Houston, Texas. ATW is traded on the NYSE under the ticker “ATW.”
S&P Dow Jones Indices is all set to make the below changes in the S&P SmallCap 600 effective at the start of trading on October 6, 2017:
Par Pacific Holdings, Inc. (NYSEAMERICAN:PARR) will replace Forestar Group Inc. (NYSE:FOR). D. R. Horton Inc (NYSE:DHI) is buying 75% of the outstanding shares of company in a deal anticipated to be completed soon depending on final conditions. Post-acquisition, Forestar’s publicly offered float will go well below 50%, making it unentitled for continued inclusion in the S&P SmallCap 600.
Photronics, Inc. (NASDAQ:PLAB) will replace Atwood. Ensco is acquiring Atwood in a deal anticipated to be closed soon pending on final closing conditions. Par Pacific owns, manages and maintains stakes in infrastructure and energy businesses. Headquartered in Houston, the firm will be included in the S&P SmallCap 600 Global Industry Classification Standard – Oil & Gas Refining and Marketing Sub-Industry index.
Photronics is a producer of photomasks. Based in Brookfield, CT, the firm will be listed to the S&P SmallCap 600 GICS – Semiconductor Equipment Sub-Industry index.