Transocean Ltd. provided an update on its pending acquisition of Valaris Limited, outlining the final steps toward completing the business combination. The company has scheduled shareholder meetings and a court hearing in late November, with an anticipated closing date of December 1, 2026, subject to receiving all necessary approvals.
Key Details
- Shareholder Meetings: Transocean and Valaris will each hold shareholder meetings on November 24, 2026, to vote on the transaction.
- Court Sanction Hearing: A hearing with the Supreme Court of Bermuda to sanction the scheme of arrangement is scheduled for November 26, 2026.
- Expected Closing Date: The business combination is anticipated to be consummated on or about December 1, 2026, if shareholder and court approvals are granted.
- Transaction Terms: The acquisition, agreed upon on February 9, 2026, will involve an exchange of 15.235 Transocean shares for each Valaris share.