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Atwood Oceanics shareholders approve merger with Ensco

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Atwood Oceanics shareholders approve merger with Ensco

Atwood Oceanics Inc.'s shareholders voted to approve the company's planned merger with its fellow offshore driller Ensco plc.

Over 98% of votes and 70% of shares outstanding were cast in favor of the merger. Under the deal, Ensco would acquire all of Atwood's outstanding shares, and the combined company would have an estimated enterprise value of $6.9 billion.

The merger is expected to close within one business day, subject to customary closing conditions, according to an Oct. 5 news release.