Great Lakes Dre. & Dock

Shares of Great Lakes Dredge & Dock rose to a record $17.00, representing a roughly 90.68% increase year‑to‑date. The move was triggered by a takeover bid from Saltchuk Resources of about $1.2 billion (or $17.00 per share), which offers a 25% premium to the volume‑weighted 90‑day average price. Saltchuk also launched a cash offer for the senior 2029 notes. Meanwhile, JPMorgan cut its rating to "Underweight" and the company announced the retirement of David J. Johanson. » Więcej na de.investing.com

Saltchuk has launched a cash tender offer for all outstanding 5.25% senior notes of Great Lakes Dredge due 2029 (principal USD 325 million). Holders who deliver by the early tender deadline of March 31 will receive USD 1,001.25 per USD 1,000 principal (including a USD 30 early tender premium); later tenders through April 15 will receive USD 971.25 per USD 1,000 principal. At the same time, consent from noteholders is being sought for extensive amendments to the note terms; the transaction is conditional on the completion of a share takeover offer. Saltchuk plans to complete the acquisition and financing measures (including possible new credit facilities or bridge financing of up to USD 2.75 billion) in early Q2 2026 and to repay any notes not tendered at par on or after June 1, 2026. » Więcej na de.investing.com

Saltchuk, through its subsidiary Huron MergeCo, has launched an acquisition offer for all outstanding shares of Great Lakes Dredge & Dock at a price of $17.00 per share. The offer is based on a merger agreement dated February 10, 2026; the acceptance period runs until March 31, 2026, subject to possible extension. The board of directors of GLDD unanimously recommends acceptance; the offer is subject to minimum tender and other closing conditions. Upon closing and satisfaction or waiver of the conditions, GLDD is to merge, cease to be publicly listed and become wholly privately owned by Saltchuk. » Więcej na de.investing.com