Rowan will relocate to serve broader base

摘要

Houston—Shares of offshore driller Rowan fell6% February 28 after the company announcedplans to relocate its legal domicile to the UKin a move that likely means removal from theStandard & Poor’s 500 stock index.Despite the downturn, analysts generallysaluted the maneuver as a sign the Houston-based company is acknowledging successtoward a larger global strategy planned forsome time (ON 8/3/11).