Valaris Limited received written notice of CFIUS approval on June 29, 2026, satisfying a key regulatory condition for its proposed business combination with Transocean Ltd. Under the agreement, Transocean will acquire all outstanding Valaris common shares in exchange for 15.235 Transocean shares per Valaris share. The companies continue to work with the DOJ regarding a Second Request and expect to complete the transaction in the second half of 2026. Valaris Limited is an offshore drilling services company.