NYSE:VALEnergy Services
Valaris Transocean Merger And Valuation Gap Put Rally In Focus
Valaris and Transocean have agreed to a Business Combination Agreement to merge their operations into a single offshore drilling company.
The combined business is expected to bring together both fleets and resources, creating a larger player in offshore drilling.
The plan includes monetizing certain non core assets and operating under some constraints while the combination is completed.
For Valaris (NYSE:VAL), the deal comes after a period of strong share price performance, with the stock...