Transocean to Acquire Valaris

09 Feb Transocean to Acquire Valaris

(Oilandgaspress) -] Transocean Ltd. and Valaris Limited announced the signing of a definitive agreement to combine the two companies under which Transocean will acquire Valaris in an all-stock transaction valued at approximately $5.8 billion (all currency in USD). The shareholding percentages of the combined company, on a fully diluted basis1, will be approximately 53% for Transocean and 47% for Valaris. The enterprise value of the pro forma company is approximately $17 billion.

Highlights

Creates an industry leader with a diversified offshore fleet of 73 rigs, including 33 ultra-deepwater drillships, nine semisubmersibles and 31 modern jackups, to meet emerging growth opportunities
Expands reach and customer access in world’s most attractive offshore basins
Unlocks more than $200 million in identified cost synergies, additive to Transocean’s ongoing cost savings initiative
Increases cash flow, accelerates deleveraging and strengthens financial flexibility
Estimated pro forma market capitalization of $12.3 billion
Improves trading liquidity and capital markets profile, including an expanded investor base and opportunities for additional equity index inclusion

Under the terms of the all-stock transaction, Valaris shareholders will receive a fixed exchange ratio of 15.235 shares of Transocean stock for each common share of Valaris. Based on the closing prices of Transocean and Valaris on February 6, 2026, the transaction implies a combined enterprise value of approximately $17 billion.

Upon completion and on a fully diluted basis, Transocean shareholders will own approximately 53% of the combined company, with Valaris shareholders owning the remaining 47%.

The transaction will be carried out by way of a court-approved scheme of arrangement under the Companies Act 1981, as amended, of Bermuda (the “Bermuda Companies Act”).

The transaction was unanimously approved by the boards of directors of both companies and is expected to close in the second half of 2026, subject to regulatory approvals and customary closing conditions, and approvals by the shareholders of each company. The parties received shareholder support agreements from Perestroika AS which owns approximately 9% of the shares outstanding of Transocean, and Famatown Finance Limited and Oak Hill Advisors, which collectively own approximately 18% of Valaris’ outstanding shares, committing to vote in favor of this transaction.

Information Source: Read More

Oilandgaspress ,Oil and Gas , Energy , Climate, Gas,Renewable, Sustainability, Oil Price, LPG, photovoltaic, wind, solar thermal,