Valaris Sets Nov 26 Bermuda Sanction Hearing, Targets Dec 1 Merger Close
VAL has more than doubled off its 52-week low of $48.085 on light trading volume (0.2× avg).
Summary
Valaris scheduled the Bermuda court hearing to sanction its takeover by Transocean for November 26, 2026, and expects the deal to close on or about December 1, 2026, following the November 24 shareholder votes.
Key Events · M&A and Partnerships · VAL
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Sanction Hearing Set for Nov 26
Valaris will apply to the Supreme Court of Bermuda to sanction the scheme of arrangement at a hearing scheduled for Thursday, November 26, 2026 at 11:00 a.m. Bermuda time.
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Closing Targeted Around Dec 1
If the Bermuda Court grants the sanction order, Valaris expects all conditions to be satisfied and the Business Combination to be consummated on or about December 1, 2026.
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Exchange Ratio Unchanged at 15.235
Transocean will acquire all Valaris shares in exchange for 15.235 Transocean shares per Valaris share, the same terms set in the February 9, 2026 Business Combination Agreement.
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Shareholder Votes Precede Court Date
The Valaris Court Meeting and the Transocean Meeting are both scheduled for November 24, 2026, two days before the sanction hearing.
Analysis · VAL · Energy & Transportation
Valaris has now put dates on the final two steps of its takeover by Transocean: the Bermuda Supreme Court sanction hearing on November 26, 2026, two days after the November 24 shareholder votes, and an expected closing on or about December 1, 2026. The exchange ratio of 15.235 Transocean shares per Valaris share is unchanged, so this is a schedule confirmation rather than new economics. What matters is that a pending deal now has a timetable — holders can see the arbitrage window closing around December 1, and any slip in the court date or the vote is the remaining risk to the 15.235 ratio being delivered.
How filings like this one have moved
In the 30 days to Oct 28, 2026, 30.7% of the 1698 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was 0.00%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, VAL was trading at $101.61 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $7.1B. The 52-week trading range was $48.09 to $114.12. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.