Transocean to Acquire Offshore Driller Valaris in $5.8 Billion Merger

news.law February 10, 2026

Transocean Ltd. has signed a definitive agreement to acquire rival offshore driller Valaris Limited in an all-stock transaction valued at roughly $5.8 billion, combining two of the industry’s most modern offshore rig fleets into a single global operator. The merged company will have an enterprise value of about $17 billion and an estimated market capitalization of $12.3 billion on a pro forma basis.