Transocean and Valaris schedule November shareholder votes and Bermuda court hearing ahead of December close
Transocean Ltd. and Valaris Limited have set November 24, 2026 for shareholder votes on their proposed combination. A Bermuda court sanction hearing is slated for November 26, 2026, with the transaction expected to close on or about December 1, 2026. The deal calls for Valaris shareholders to receive 15.235 Transocean shares for each Valaris share. Completion will merge two of the largest offshore drilling contractors.
Why it matters
Transocean says the sanction order would satisfy remaining conditions and allow the combination to be consummated on or about December 1, 2026, creating a larger offshore drilling entity and determining the post‑deal ownership stake of Valaris shareholders.
Key facts
- 1Shareholder votes are scheduled for November 24, 2026. tradingview.com
- 2The Bermuda court sanction hearing is set for November 26, 2026. tradingview.com
- 3The transaction is expected to close on or about December 1, 2026. tradingview.com
- 4Valaris shareholders will receive 15.235 Transocean shares per Valaris share. tradingview.com
- 5The deal is structured as a court‑sanctioned scheme of arrangement under section 99 of the Bermuda Companies Act 1981. minichart.com.sg
Summary written by AlphAI AI Desk from 4 of 4 sources. Not investment advice. Figures are as stated by the linked sources.