Valaris Limited, a U.S.-based offshore drilling services provider, saw its shares surge after agreeing to be acquired by Transocean in an all-stock transaction announced on February 9th, priced at a roughly 32% premium to its stock price. Moerus Worldwide Fund, which highlighted Valaris as its largest individual contributor to performance in the first half of 2026, noted that the stock was added to the fund in early 2025 following a slide amid subdued oil prices and a temporary lull in offshore drilling activity. As of September 7, 2026, Valaris shares closed at approximately $86.74, giving it a market capitalization of about $6.03 billion. The fund's Institutional Class returned 0.14% in Q2 2026, compared with 14.49% for the MSCI ACWI ex USA and 14.93% for the MSCI ACWI, with underperformance driven by limited exposure to information technology and energy holdings. Moerus maintains its deep-value approach, viewing the gap between expensive AI-focused areas and neglected parts of the market as an opportunity.
Transocean LtdTransocean agreed to acquire Valaris in an all-stock transaction, a major M&A move for the company.
Valaris LtdValaris shares surged after agreeing to be acquired by Transocean at a roughly 32% premium.
