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

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Transocean has agreed to acquire its competitor Valaris in an all-stock transaction valued at approximately $5.8 billion. The combined company will become the world's largest and most advanced offshore drilling fleet.

Under the terms of the agreement, Transocean shareholders will own about 53% of the newly merged company, while Valaris shareholders will hold the remaining 47%. The merger is expected to strengthen the company’s competitive position in the offshore drilling industry.

Following the announcement, shares of both Transocean and Valaris rose as investors responded positively to news of the deal.

In an all-stock deal, one company acquires another by offering its own shares instead of cash. Valaris shareholders will receive shares in the new combined company.

The merger will create a larger, more competitive offshore drilling company with a higher-quality fleet.

The articles did not mention any change to the company name.

Shares of both Transocean and Valaris increased after the announcement of the deal.

GlobeNewsWire

Creates the world's highest-quality, highest-specification offshore drilling fleet Companies to host conference call today at 8 a.m. CT / 9 a.m.

WSJ

Transocean agreed to acquire fellow offshore drilling services company Valaris in an all-stock deal worth $5.8 billion.

Proactive Investors

Transocean (NYSE:RIG) and Valaris (NYSE:VAL) announced on Monday that they have entered a definitive agreement to combine the two offshore drilling companies, with Transocean acquiring Valaris in an all-stock transaction valued at approximately $5.8 billion. Under the agreement, Transocean sharehold...

The Motley Fool

Expand NYSE: RIG Transocean Today's Change (5.57%) $0.30 Current Price $5.69 Key Data Points Market Cap $5.9B Day's Range $5.18 - $5.76 52wk Range $1.97 - $5.76 Volume 11M Avg Vol 34M Gross Margin 20.70% Transocean (RIG +5.57%), an offshore drilling contractor, closed Monday at $5.71, up 5.94%. The...

The Motley Fool

A merger with Transocean could create the world's finest fleet of rigs. The combined company would be stronger competitively and financially.

Business Wire

NEW YORK & NEW ORLEANS--(BUSINESS WIRE)--Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC (“KSF”) are investigating the proposed sale of Valaris Limited (NYSE: VAL) to Transocean Ltd. (NYSE: RIG). Under the terms of the proposed transaction,...

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