Transocean Pulls Back as $5.8B Valaris Merger Raises Dilution Concerns
Transocean (RIG) shares fell over 6% on Tuesday, pausing a massive six-month rally as investors reassessed the $5.8 billion all-stock acquisition of Valaris. The market is weighing the strategic benefits of creating the world's largest offshore driller against immediate concerns over share dilution and upcoming Q4 earnings.