Brazil's CADE clears Transocean-Valaris merger without restrictions; close seen in Q4 2026

Valaris Ltd

CADE issued its decision on Oct 13, 2026 allowing the Business Combination to take effect without restrictions; publication in Brazil's Official Journal expected Oct 15-16, 2026.
A 15-day waiting period follows publication; once CADE's decision is final, all regulatory approval conditions to closing will be satisfied.
Under the Feb 9, 2026 Business Combination Agreement, Transocean acquires all Valaris shares for 15.235 Transocean shares per Valaris share.
Closing anticipated in Q4 2026, subject to satisfaction or waiver of remaining conditions; joint definitive proxy statement filed Oct 14, 2026.

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