Transocean to Acquire Valaris in $5.8 Billion All-Stock Deal

Transocean is set to acquire Valaris in an all-stock transaction valued at approximately $5.8 billion, creating a consolidated industry leader in offshore drilling. The merger aims to capitalize on an emerging offshore drilling upcycle, unlocking over $200 million in cost synergies and strengthening financial flexibility. Transocean shareholders will own 53% of the combined entity, while Valaris shareholders will hold the remaining 47%. The deal, unanimously approved by both boards, is expected to close in the second half of 2026, pending regulatory approvals.