InsideArbitrage Event Driven Monitor – February 10, 2026
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Merger Arbitrage
- VAL: The acquisition of Valaris Limited (VAL) by Transocean Ltd. (RIG) for a closing value of $6.51 billion. Valaris shareholders will receive a fixed exchange ratio of 15.235 shares of Transocean stock for each Valaris common share. This implies a consideration of $82.12 per Valaris share, representing a premium of 31.58% from the stock’s last close. (Press Release)
- CCO: The acquisition of Clear Channel Outdoor Holdings, Inc. (CCO) by Mubadala Capital and TWG Global for a closing value of $6.2 billion. The investor group will acquire 100% of Clear Channel’s outstanding common stock, with Clear Channel’s common shareholders receiving $2.43 per share in cash, representing a 10.96% premium from the stock’s last close. (Press Release)
- FFIC: OceanFirst (OCFC) filed Form S-4 for the acquisition of Flushing (FFIC). The companies expect to complete the merger in the second quarter of 2026.
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