Valaris Ltd. (VAL) Skyrockets 34% on $5.8-Billion Merger

Group 1 - Valaris Limited (NYSE:VAL) experienced a significant stock increase of 34.31%, closing at $83.82, following the announcement of its acquisition by Transocean Ltd. for $5.8 billion [1] - The acquisition aims to create an industry leader with a diversified offshore fleet consisting of 73 rigs, including 33 ultra-deepwater drillships, nine semisubmersibles, and 31 modern jackups, to capitalize on growth opportunities globally [2] - Valaris CEO Anton Dibowitz stated that the merger will enhance Transocean's deepwater assets and jackup expertise, enabling the combined company to operate any rig in various offshore environments worldwide [3] Group 2 - Two directors from Valaris Limited will join Transocean's board after the transaction is completed [4]