As it turned out, Luminus Management, a shareholder of Valaris (VAL) that has recently increased its stake and revealed its proposals, did not wait long before making additional moves. Luminus has just published a letter to Valaris shareholders in which it argued for the necessity to make decisive changes to the company’s Board and announced its intention to call an Ordinary Meeting of Shareholders to elect new directors. Valaris did not wait long before publishing an answer. Meanwhile, Valaris’ shares had a good day on the back of both activist activity and