Deals
Rowan Slips After $1.1 Billion Sale of Manufacturing Unit
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Rowan Cos. fell 8 cents after reporting that it will sell LeTourneau Technologies Inc., the manufacturing arm it’s been looking to divest for three years, to Joy Global Inc. for $1.1 billion in cash.
Rowan fell 8 cents to $37.96 at 4:00 p.m. in New York Stock Exchange composite trading. Shares of the Houston-based company rose as much as 5 percent earlier today. Shares fell as crude oil futures in New York dropped 2.3 percent to $97.37 a barrel.