{"schema_version":"secwatch.filing_event.v1","accession":"0001140361-26-004511","form_type":"8-K","ticker":"VAL","cik":"0000314808","company_name":"Valaris Ltd","filed_at":"2026-02-10T23:59:59+00:00","discovered_at":"2026-05-14T18:02:37.344657+00:00","generated_at":"2026-05-16T03:42:43.150098+00:00","sec_items":["1.01","9.01"],"event_type":"m_and_a","sentiment":"neutral","materiality_score":0.9,"calibrated_materiality_score":0.9,"confidence":"high","headline":"Valaris to be acquired by Transocean at exchange ratio of 15.235; combined ownership 53% Transocean / 47% Valaris","bullets":["Transocean will acquire all Valaris shares; each Valaris share exchanged for 15.235 Transocean shares.","Combined company: ~53% owned by Transocean shareholders, ~47% by Valaris shareholders.","Termination fees: $195M to Valaris, $173M to Transocean; expense reimbursements up to $65M/$58M.","Support agreements: ~18% Valaris shareholders and ~9% Transocean shareholders committed to vote in favor.","Transaction expected to close by February 9, 2027, subject to regulatory and shareholder approvals."],"urls":{"canonical":"https://secwatch.observer/filing/0001140361-26-004511","json":"https://secwatch.observer/filing/0001140361-26-004511.json","markdown":"https://secwatch.observer/filing/0001140361-26-004511.md","text":"https://secwatch.observer/filing/0001140361-26-004511.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/314808/000114036126004511/0001140361-26-004511-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/314808/000114036126004511/ef20065226_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-16T03:42:43.150098+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"dac1a40d2b04fbb3099528bbbb6ca38b1c28b9ff","claim":"Valaris Ltd entered into Business Combination Agreement with Transocean Ltd. valued at Exchange ratio of 15.235 Transocean Shares per Valaris Share; resulting ownership of approximately 5 (effective 2026-02-09).","evidence_excerpt":"On February 9, 2026, Valaris Limited, an exempted company limited by shares incorporated under the laws of Bermuda (“ Valaris ”) and Transocean Ltd., a Swiss corporation (“ Transocean ”) (Transocean and Valaris, collectively, the “ Parties ” and each, a “ Party ”), entered into a Business Combination Agreement (the “ Agreement ”) providing for the combination of the two Parties (the “ Business Combination ”).","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/314808/000114036126004511/0001140361-26-004511-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"merger"},{"label":"Counterparty","value":"Transocean Ltd."},{"label":"Value","value":"Exchange ratio of 15.235 Transocean Shares per Valaris Share; resulting ownership of approximately 5"},{"label":"Effective","value":"2026-02-09"}]}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}