Valaris Limited has provided a definitive timeline for the final steps in its previously announced acquisition by Transocean Ltd. The company has scheduled the required shareholder meetings and a court hearing to approve the transaction, with an anticipated closing date on or about December 1, 2026.
Key Details
- Shareholder Meetings: Special shareholder meetings for both Valaris and Transocean to vote on the business combination are scheduled for November 24, 2026.
- Court Sanction Hearing: A hearing with the Supreme Court of Bermuda to sanction the Scheme of Arrangement is scheduled for November 26, 2026.
- Anticipated Closing Date: The business combination is expected to be consummated on or about December 1, 2026, subject to receiving all necessary shareholder and court approvals.
- Transaction Terms: The acquisition involves Transocean acquiring all outstanding Valaris common shares in exchange for 15.235 Transocean shares for each Valaris share.