Transocean-Valaris Merger Creates Offshore Drilling Powerhouse

Key Takeaways Transocean and Valaris agreed to a $5.8B all-stock merger, creating a $17B offshore leader.The combined company will operate 73 rigs, spanning ultra-deepwater, semis and jackups.More than $200M in synergies and a $10B backlog aim to boost cash flow and deleverage.Transocean Ltd. (RIG) and Valaris Limited (VAL) have announced a definitive all-stock agreement that will combine two of the offshore drilling industry’s most established players. Valued at approximately $5.8 billion, the transaction ...