Transocean to Buy Valaris in $5.8 Billion Offshore Oil Deal

Core Viewpoint - Transocean Ltd. has agreed to acquire Valaris Ltd. in an all-stock deal valued at $5.8 billion, driven by increasing offshore drilling activity [1] Company Summary - The acquisition will result in the formation of the world's largest offshore rig contractor by market value [1] - The combined fleet will consist of 73 offshore rigs, which includes 33 ultra-deepwater drillships, nine semisubmersibles, and 31 jackup vessels [1]