By Josh Beckerman

Rowan Cos. (RDC) is adjourning a Jan. 23 shareholder meeting as it continues to review a revised buyout offer from Ensco PLC (ESV).

Rowan will respond "in due course" and then determine a date to reconvene the meeting.

The offshore oil drillers announced the stock-swap deal in October. At the time, Rowan had a market value of about $2.4 billion.

Rowan shareholder Canyon Capital said Jan. 7 it would oppose the transaction. On Monday, Ensco said it would offer 2.6 Ensco shares for each Rowan share, up from 2.215 previously.

Write to Josh Beckerman at josh.beckerman@wsj.com

(END) Dow Jones Newswires

January 17, 2019 18:02 ET (23:02 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
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