Valaris Ltd (VAL) · Oct 14, 2026 · Acquisition
CADE clearance — No restrictions; 15-day waiting period before finality
Valaris’ merger filing says Brazil cleared the Transocean deal without restrictions. The transaction now advances toward an expected fourth-quarter closing.
Valaris is a global offshore drilling contractor operating a large fleet of drillships, semisubmersibles and jackups while moving toward combination with Transocean. The merger clears another regulatory hurdle, but this is progress rather than a change in the deal’s basic direction. Brazil’s CADE competition authority decided the transaction can proceed without restrictions on October 13, 2026. 〔0〕 (Item 8.01) The absence of conditions removes a potential source of delay or deal dilution, but the merger was announced in February and regulatory clearance was already the expected path, so the filing is only partly new.
The transaction is now close to regulatory completion, not legally closed. Publication in Brazil’s Official Journal on October 15 or 16 will start a 15-day waiting period; after that period, all regulatory approval conditions are expected to be satisfied. 〔1〕 (Item 8.01) Shareholder, court and other closing conditions remain, with management still targeting completion in the fourth quarter of 2026. 〔2〕 (Item 8.01)
Bottom line: This removes the last identified regulatory approval condition without imposing remedies, making the announced merger more executable. It matters to deal certainty, but adds little to the underlying business story because the transaction and expected closing window were already known.ч
CADE waiting period ends; remaining shareholder and court closing steps
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