Transocean slides by week’s end with oil risks hanging over Valaris tie-up
Transocean shares slid 12% to $5.31 before the Juneteenth break despite winning $185 million in new rig contracts, as investors weighed oil price volatility, Hormuz shipping risks, and uncertainty around the pending $5.8 billion Valaris merger, with the stock set to test support at $5.14 when trading resumes Monday.