Transocean clears DOJ antitrust review for Valaris takeover
The exchange ratio stays fixed at 15.235 Transocean shares per Valaris share, with the deal first agreed on February 9, 2026
Published
Chart: RIG, one-minute prices, three sessions
Transocean said the Justice Department's Antitrust Division has closed its investigation into its planned acquisition of Valaris, with the waiting period under the Hart-Scott-Rodino Act now expired.
Under the deal, first agreed on February 9, 2026, Transocean will acquire all outstanding Valaris shares in exchange for 15.235 Transocean shares per Valaris share. Transocean and Valaris said they expect the transaction to close in the fourth quarter of 2026, subject to remaining closing conditions.
The clearance repeats an antitrust confirmation already disclosed earlier the same day and does not mark a new regulatory milestone beyond reaffirming the fourth-quarter timeline. The fixed exchange ratio remains unchanged, with no sign of renegotiation.
Transocean has also continued to win contracts that extend its backlog into 2027. Taken together, the merger path looks increasingly procedural, with shareholder votes now the main step left before the deal can close.