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Jim Cramer — Ensco's Secondary Offering May Not Be Too Big


Ensco (ESV - Get Report) shares are down 0% Friday after announcing it will sell 57.5 million shares at $9.25 in a secondary offering.

TheStreet's Jim Cramer, co-manager of the Action Alerts PLUS portfolio, said on CNBC's "Mad Dash" segment that some investors might think this offering is too much. However, there have been similar secondary offerings from other energy companies -- notably Pioneer Natural...