---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-26-004310"
form_type: "8-K"
ticker: "VAL"
cik: "0000314808"
company_name: "Valaris Ltd"
filed_at: "2026-02-09T23:59:59+00:00"
generated_at: "2026-05-16T03:58:07.219642+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.95
calibrated_materiality_score: 0.95
confidence: "high"
source: SEC EDGAR
---

# Transocean to acquire Valaris in all-stock deal valued at ~$5.8B; combined fleet of 73 rigs

## Summary
- Deal valued at ~$5.8B; exchange ratio 15.235 RIG shares per VAL share; combined EV ~$17B.
- Pro forma ownership 53% Transocean, 47% Valaris; expected closing H2 2026.
- Identified cost synergies >$200M; combined backlog ~$10B.
- Leadership: Keelan Adamson CEO, Jeremy Thigpen Executive Chairman; board 11 members (9 RIG, 2 VAL).
- Combined fleet of 73 rigs including 33 ultra-deepwater drillships, 9 semisubmersibles, 31 jackups.

## SEC filing metadata
- accession: 0001140361-26-004310
- form_type: 8-K
- ticker: VAL
- cik: 0000314808
- company_name: Valaris Ltd
- filed_at: 2026-02-09T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.95
- calibrated_materiality_score: 0.95
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/314808/000114036126004310/0001140361-26-004310-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/314808/000114036126004310/ef20065172_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-26-004310
- JSON: https://secwatch.observer/filing/0001140361-26-004310.json
- Plain text: https://secwatch.observer/filing/0001140361-26-004310.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.