Why Valaris Limited Rocketed Over 40% This Week
Shares of Valaris (NYSE: VAL) rallied 48.1% this week through 11:50 a.m. Friday, according to data from S&P Global Market Intelligence.
On Monday, the company announced essentially a "merger of equals" with Transocean (NYSE: RIG), a tie-up that would create the largest offshore oil rig company on the public markets.
Investors applauded the deal, looking forward to ample cost synergies that may de-risk the company going forward.
Source Fool.com
