The all-stock deal values Valaris at a 32% premium, creating the largest offshore drilling contractor amid rising industry demand.
Valaris (VAL) surged in Q1 2026 after Transocean announced a $5.8 billion all-stock acquisition, offering shareholders a 32% premium. The deal, finalized June 24, 2026, positions the combined entity as the world’s largest offshore drilling contractor with an expanded fleet and backlog.
Valaris closed at $75.52 per share on June 24, reflecting an 80.31% gain over the past 52 weeks but a one-month return of -22.35%. The company’s market capitalization stands at $5.23 billion. Hedge fund holdings in Valaris declined to 52 in Q1 2026 from 62 in the prior quarter.
The transaction underscores expectations of stronger pricing power and industry consolidation as offshore drilling demand recovers.