Transocean to acquire Valaris for $5.8bn.

Transocean, an international provider of offshore contract drilling services for oil and gas wells, agreed to acquire Valaris, a provider of offshore drilling services, for $5.8bn. "By combining with Transocean, we will create a new industry leader for the benefit of our shareholders, customers and employees. We look forward to complementing Transocean’s high-specification deepwater assets with our own, while returning world class jackup expertise to Transocean’s business, creating a combined company that is capable of operating any rig at any water depth in any offshore environment around the world," Anton Dibowitz, Valaris CEO.