Transocean's Valaris acquisition wins unconditional Brazilian antitrust approval
VAL•Brazil's CADE cleared Transocean's acquisition of Valaris without restrictions on October 13, 2026. Once the decision becomes final, regulatory approval conditions will be satisfied; closing is expected in the fourth quarter, subject to remaining conditions.
1. Approval and deal terms
Brazilian competition authority CADE cleared the acquisition without restrictions on October 13, 2026. Publication in Brazil's Official Journal is expected October 15 or 16, starting a 15-day waiting period; once the decision becomes final, all regulatory approval conditions for closing will be satisfied. Under the February 9 agreement, Valaris shareholders will receive 15.235 Transocean shares for each issued and outstanding Valaris common share, with closing expected in the fourth quarter of 2026, subject to satisfaction or waiver of the remaining conditions.
