{"id":462285,"date":"2026-02-11T14:06:11","date_gmt":"2026-02-11T14:06:11","guid":{"rendered":"https:\/\/www.newsbeep.com\/us\/462285\/"},"modified":"2026-02-11T14:06:11","modified_gmt":"2026-02-11T14:06:11","slug":"breaking-news-saltchuk-to-acquire-gldd-for-1-2-billion","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us\/462285\/","title":{"rendered":"BREAKING NEWS: Saltchuk to acquire GLDD for $1.2 billion"},"content":{"rendered":"<p>Saltchuk Resources Inc. today announced a definitive agreement to\u00a0acquire\u00a0Great Lakes Dredge &amp; Dock Corporation (GLDD<a href=\"https:\/\/www.streetinsider.com\/entities\/ARK\" rel=\"nofollow noopener\" target=\"_blank\">) for approximately $1.2 billion in aggregate equity value and $1.5 billion total transaction value.<\/p>\n<p><img fetchpriority=\"high\" decoding=\"async\" width=\"768\" height=\"587\" src=\"https:\/\/www.newsbeep.com\/us\/wp-content\/uploads\/2026\/02\/company-768x587.jpg\" class=\"attachment-medium_large size-medium_large\" alt=\"\" loading=\"eager\"  \/>photo courtesy of GLDD<\/p>\n<p>Under the terms of the agreement, which has been unanimously approved by the Board of Directors of both companies, Saltchuk will begin a tender offer to acquire all outstanding shares of the Company for $17.00 per share in cash. <\/p>\n<p>The per share purchase price represents a 25% premium to Great Lakes\u2019s 90-day volume-weighted average price as of February 10, 2026, the last trading day prior to the announcement, as well as a 5% premium to the Company\u2019s all-time high closing price.<\/p>\n<p>Commenting the news, Lawrence R. Dickerson, Chairman of the Great Lakes Board of Directors, said: \u201cAfter extensive review, we have determined that this transaction is in the best interests of Great Lakes\u2019 shareholders as it delivers immediate and certain value at a premium to the Company\u2019s all-time high valuation.\u201d<\/p>\n<p>\u201cWe are happy to join Saltchuk\u2019s family of companies who share our unique company culture, with focus on safety and our community, customers and employees,\u201d said Lasse Petterson, Great Lakes\u2019 President and Chief Executive Officer. \u201cOur long-term growth strategy will continue with a partner who shares our vision while maintaining our leadership position in U.S. dredging and global offshore energy.\u201d<\/p>\n<p>The closing of the tender offer will be subject to customary closing conditions, including the expiration of the Hart-Scott-Rodino Act waiting period and the tender of shares representing at least one share more than a majority of Great Lakes\u2019 outstanding shares of common stock, and is expected to close in Q2 2026.\u00a0<\/p>\n<p>Upon completion of the transaction, Great Lakes will operate as a standalone business within Saltchuk and its common stock will no longer be listed on the Nasdaq.<\/p>\n","protected":false},"excerpt":{"rendered":"Saltchuk Resources Inc. today announced a definitive agreement to\u00a0acquire\u00a0Great Lakes Dredge &amp; Dock Corporation (GLDD) for approximately $1.2&hellip;\n","protected":false},"author":2,"featured_media":462286,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[4,450,215551,451,3,215552,452,453],"class_list":{"0":"post-462285","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-breaking-news","8":"tag-breaking-news","9":"tag-breakingnews","10":"tag-gldd","11":"tag-headlines","12":"tag-news","13":"tag-saltchuk","14":"tag-top-stories","15":"tag-topstories"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/462285","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=462285"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/462285\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/462286"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=462285"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=462285"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=462285"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}