Transocean Stock Price Today: RIG Slips as Oil Shock Meets Valaris Deal Test
Transocean shares slipped 3.5 cents to $6.28 Thursday, despite energy being the only S&P 500 sector to close higher as Gulf tanker attacks drove crude up nearly 10%. Investors weighed a $5.8 billion all-stock Valaris deal and $6.1 billion backlog against volatile oil prices and merger risks. WTI crude settled up 9.7%, Brent hit $100. The Valaris tie-up would create a 73-rig fleet with $10 billion backlog.