DOJ ends Valaris deal review. Valaris stock sits 31.43 percent below its high

Published on 10/02/2026 at 21:36 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

A September 30, 2026 filing removed a key deal hurdle for Transocean. Valaris stock sits 31.43 percent below its USD 114.12 high on the NYSE.

VAL, BMG9460G1015, Illustration mit AI erstellt.

Valaris Limited (ISIN BMG9460G1015) cleared a major regulatory hurdle on September 30, 2026, when the U.S. Department of Justice ended its antitrust review of the planned all-stock combination with Transocean. According to StockTitan, Valaris stock was trading at USD 78.25 on the NYSE at 3:35 p.m. ET on October 2, 2026, 31.43 percent below its USD 114.12 52-week high.

Deal hurdle removed

The DOJ action means the Hart-Scott-Rodino waiting period has expired, according to StockTitan on September 30, 2026. The agreement provides 15.235 Transocean shares for each Valaris share, and the parties expect the Bermuda scheme of arrangement to close in the fourth quarter of 2026, subject to remaining conditions.

The regulatory milestone reduces one transaction condition, but it does not complete the combination. The closing still depends on the remaining contractual and approval requirements described in the filing.

Revenue rebounds in the second quarter

Valaris reported USD 539.2 million in total operating revenue for the second quarter of 2026, compared with USD 465.4 million in the first quarter, an increase of 15.87 percent. Net income changed from a USD 18.0 million loss in the first quarter to USD 47.0 million of profit in the second quarter, according to Yahoo Finance on September 5, 2026.

Adjusted EBITDA rose from USD 66.7 million in the first quarter of 2026 to USD 96.5 million in the second quarter, a 44.68 percent increase. The improvement followed the return of drillships VALARIS DS-12 and DS-10 to operations, while Middle East activity reduced second-quarter adjusted EBITDA by USD 30.0 million, the same report said.

Analysts remain cautious

The earnings rebound has not removed valuation concerns. MarketBeat reported on September 18, 2026, that six analysts rated Valaris a Hold and one rated it Sell, producing a Reduce consensus and an average 12-month price target of USD 66.60.

That target is USD 11.65 below the October 2, 2026 NYSE price of USD 78.25. The contrast is clear: operating results improved between the first and second quarters, while the transaction and regulatory timetable remain central to the investment case.

Market value and transaction timing

Valaris had a market capitalization of USD 5.4 billion as of October 2, 2026. Its 52-week range was USD 46.70 to USD 114.12, placing the intraday price of USD 78.25 67.56 percent above the low and 31.43 percent below the high.