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Transocean Acquires Valaris for $5.8B, Creating Deepwater Drilling Behemoth

Transocean announced Monday it has acquired Valaris Ltd. for about $5.8 billion in an all-stock transaction that creates an offshore drilling behemoth with 33 ultra-deepwater drillships, nine semisubmersibles and 31 modern jackups.

Skadden advised Valaris with a team led by Eric Otness in Houston and Stephen Arcano and Max Troper in New York. Davor Vukadin is GC at Valaris, and Brady Long is Transocean’s chief legal officer.

Jason Philyaw

Jason compiles the weekly Corporate Deal Tracker Roundup and covers the dealmakers behind the deals.

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