Rowan Announces Agreement to Sell LeTourneau Technologies for $1.1B

Rowan Companies, Inc. RDC announced today that it has entered into a share purchase agreement with Joy Global, Inc. JOYG to sell all shares of common stock held by Rowan in LeTourneau Technologies, Inc. for $1.1 billion in cash. The Agreement is subject only to regulatory approval, which the Company expects to obtain within 60 days.