The U.S. Transocean, which operates a fleet of 27 units deep-sea drilling vessels, will acquire the British Valaris, a company active in the same Business sector with a fleet of around 50 units including 13 drilling rigs. The operation was agreed by the two companies that have signed a specific definitive merger agreement under which Transocean will acquire Valaris as part of a wholly worth about $5.8 billion. The Percentages of the company's shareholding resulting from the merger will be approximately 53% for Transocean and 47% for Valaris.

Transocean and Valaris have highlighted that the transaction of merge will create an industry leader with a fleet of 73 offshore units, including 33 water drillboats ultra-deep, nine semi-submersible units and 31 modern jack-ups to seize emerging growth opportunities.