M&A/Shareholder vote/2026/Valaris Limited
Valaris Limited VAL
Transocean Ltd. is buying Valaris Limited (VAL), paying holders in stock. Valaris provides offshore contract drilling services to the petroleum industry worldwide.
Holders get
Stock
15.235 registered shares of Transocean, par value $0.10 per share
Deal value
Not given
Expected close
Not given
Status
Pending
Checked
See the filing →
Filed
The deal
Transocean Ltd. is acquiring Valaris Limited, which provides offshore contract drilling services to the petroleum industry worldwide. Valaris shareholders will receive 15.235 registered shares of Transocean, par value $0.10 per share, for each Valaris share.
The deal is expected to close after shareholder approvals from both companies, court sanction, and HSR waiting period expiry. The Valaris shareholder vote is scheduled for November 24, 2026.
What has happened
Agreement signed · See the filing
Regulators cleared the deal · CFIUS approved the Business Combination, satisfying one condition to Transocean's acquisition of Valaris. · See the filing
Regulators cleared the deal · The U.S. Department of Justice Antitrust Division closed its HSR Act investigation and the waiting period expired. · See the filing
Regulators cleared the deal · Brazilian competition authority CADE cleared the Business Combination without restrictions, triggering a fifteen-day waiting period before final. · See the filing
Holders sent the terms and a meeting date
What must happen first
approval of the Valaris Transaction Resolution by Valaris Shareholders
approval of the Share Issuance Resolutions and the NYSE 20% Share Issuance Proposal by Transocean Shareholders
sanction by order of the Court
HSR waiting period expiry
The board says
The board of directors of Valaris UNANIMOUSLY recommends that Valaris Shareholders vote FOR each of the Valaris Meeting Proposals.