U.S.-based offshore supply vessel company Tidewater has completed its merger with rival Gulfmark Offshore, thereby creating a new global leader in the offshore support vessel sector in terms of total fleet size. Tidewater Inc. (NYSE: TDW) announced the closing of the deal on Thursday with support from over 99% of shareholders from both companies. All closing … [Read more...]
Gulfmark Offshore Receives Unsolicited Merger Offer from Harvey Gulf, Throwing Wrench in Planned Tidewater Deal
Houston-based GulfMark Offshore (NYSE:GLF) today confirmed that it has received a non-binding, unsolicited proposal from competitor Harvey Gulf International Marine to combine the companies in an all-stock merger in which GulfMark would acquire Harvey Gulf. Under the Harvey Gulf proposal, GulfMark stockholders would own 41.2% of the combined company and it would remain … [Read more...]
Tidewater and Gulfmark to Merge, Creating Offshore Supply Vessel Leader
U.S.-based offshore supply vessel companies Tidewater (NYSE: TDW) and GulfMark Offshore (NYSE: GLF) announced Monday that their respective Boards of Directors have unanimously approved a definitive agreement to combine the two companies. The combination would create a global leader in the offshore support vessel sector that is "positioned to capitalize on significant cost … [Read more...]
U.S. Barge Operator Tidewater Reportedly Put Up for Sale
By Gillian Tan (Bloomberg) -- Stonepeak Infrastructure Partners, a $15 billion firm led by former Blackstone Group LP dealmakers, is seeking to sell barge and terminal operator Tidewater Holdings Inc., according to people familiar with the matter. Tidewater could fetch a price around $500 million, said some of the people, who asked not to be identified because the sale … [Read more...]
Tidewater Appoints New President and CEO
Louisiana-based oil services company Tidewater (NYSE:TDW) has announced the appointment of John T. Rynd as the company's new President and Chief Executive Officer and a member of the Board of Directors effective March 5. The announcement comes after a four-month search for new CEO after its former CEO, Jeffrey Platt, stepped down from the role following the completion of the … [Read more...]