Transocean clears Brazil antitrust review for Valaris takeover
CADE's approval is expected to publish October 15 or 16, 2026, starting a 15-day window before the condition is formally satisfied
Published
Chart: RIG, one-minute prices, three sessions
Transocean has received approval from Brazil's competition authority, CADE, for its planned acquisition of Valaris, with no restrictions attached. The companies expect the decision to appear in Brazil's Official Journal on October 15 or 16, 2026.
That publication will start a 15-day waiting period. Once it passes, all regulatory approval conditions tied to the deal will be satisfied.
The CADE decision confirms what Valaris had already disclosed a day earlier, making this a formal step rather than a new milestone. It follows the Department of Justice's clearance of the deal under US antitrust rules in late September, meaning the acquisition has now passed both of its major competition reviews without any change to the exchange ratio: Transocean will issue 15.235 of its own shares for every Valaris share. What remains before the deal can close is shareholder approval and the administrative steps that follow it, with completion still expected in the fourth quarter of 2026.
The consistency of the confirmations from Transocean, Valaris and now the Brazilian regulator lowers the chance that either side revisits the terms before closing.