Valaris stock: Brazil clears merger hurdle for Valaris stock toward fourth-quarter close

Published on 10/24/2026 at 01:16 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

CADE cleared the deal on October 13, 2026 at a 15.235-to-1 exchange ratio for Valaris stock. The next results release is set for November 2, 2026.

Transaction and operating markers

Brazilian authorities cleared the merger on October 13, 2026.
Second-quarter revenue reached USD 539.2 million, down 12.4 percent year over year.
Valaris stock was last quoted at USD 97.25 on October 23, 2026.

VAL, BMG9460G1015, Illustration mit AI erstellt.

Valaris (ISIN BMG9460G1015) moved closer to a fourth-quarter merger closing after Brazilian competition authorities cleared its combination with Transocean on October 13, 2026, at an exchange ratio of 15.235 Transocean shares for each Valaris share, according to an SEC filing. The remaining path includes a 15-day waiting period and shareholder approval.

Merger clearance removes a hurdle

The SEC filing said the Brazilian authority allowed the transaction to proceed without restrictions. Once the decision becomes final, all regulatory approval conditions are expected to be satisfied, while the companies continue to anticipate closing in the fourth quarter of 2026.

The transaction would give Valaris shareholders 15.235 Transocean shares per Valaris share. That structure makes regulatory timing and the eventual shareholder vote more important than a standalone cash offer.

What does the exchange ratio mean?

The ratio defines the consideration for each Valaris share but does not fix a cash value. The deal therefore leaves the final economic value tied to Transocean's share price until completion.

Three dated Valaris milestones

On February 9, 2026, Valaris and Transocean signed the business combination agreement at the 15.235-to-1 exchange ratio, according to the SEC. On October 7, 2026, Valaris announced contract awards and extensions representing USD 220 million in associated backlog through its company release. On October 13, 2026, Brazilian authorities cleared the merger without restrictions, as described in the SEC filing.

Next date is November 2

Valaris said on October 14, 2026, that it will publish third-quarter 2026 results after the NYSE closes on November 2, 2026, according to its release. The company also said it does not intend to hold future earnings calls or provide updates to forward-looking guidance because of the pending combination.

Results add a counterweight

Valaris reported USD 539.2 million in revenue and USD 0.72 in earnings per share for the second quarter of 2026. Revenue was down 12.4 percent year over year, although earnings per share exceeded the USD 0.31 consensus by USD 0.41, according to MarketBeat.

Analyst expectations remain cautious. Susquehanna raised its target from USD 80.00 to USD 86.00 on October 5, 2026, while the reported consensus target was USD 67.80, according to MarketBeat.

Stock context before the results

Valaris was last quoted at USD 97.25 on the NYSE on October 23, 2026. Its market capitalization was USD 6.8 billion as of October 23, 2026, while its second-quarter cash balance was USD 541.2 million.