Ensco to join S&P 500

Ensco move: Company to be included on leading US listing

Ensco

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Kathrine Schmidt

 27 July 2012 18:22 GMT

London-based driller Ensco will join the S&P 500 list after an existing member of the group is absorbed in a merger, the listing company said.

Goodrich Corporation, an aerospace manufacturer and existing member, has announced plans to merge with United Technologies Corporation, already a member of the index, S&P Dow Jones Indices said in a statement.

That leaves an opening for Ensco, which will be included on the list after the close of US trading Monday.

Shares were trading up more than 5% at midday Friday following the news.

With a market capitalisation of $12.5 billion, the contractor will join top integrated E&P companies, service companies and fellow drillers Noble Corporation, Diamond Offshore, Helmerich & Payne and Nabors Industries…

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