Tidewater, GulfMark Finalize Business Combination

OSV Highland PrestigeImage Courtesy: Tidewater Inc.

US-based companies Tidewater and GulfMark Offshore have completed their business combination, creating the industry’s largest offshore support vessel (OSV) owner.

The companies informed that their stockholders “overwhelmingly supported the business combination,” with relevant proposals being approved by over 99% of the votes cast by Tidewater stockholders and GulfMark stockholders at a meeting on November 15.

All necessary conditions to the closing have been satisfied and the business combination has been consummated. In connection with the completion of the transaction, GulfMark common stock ceased trading on the New York Stock Exchange as of the market close on November 15, 2018.

“We’re excited to welcome the GulfMark team to Tidewater, and we look forward

John Rynd, Tidewater’s President and Chief Executive Officer, said that the company is looking forward “to commencing the work of integrating our fleets and shore-base operations in order to quickly and fully realize the strategic and financial benefits of this business combination.”

The parties earlier said that the merger would create a global OSV leader with the industry’s largest fleet of 245 vessels.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Mar 2019 >>
MTWTFSS
25 26 27 28 1 2 3
4 5 6 7 8 9 10
11 12 13 14 15 16 17
18 19 20 21 22 23 24
25 26 27 28 29 30 31

LNG2019

LNG2019 features the largest number and highest level of LNG industry leaders.

read more >

Singapore Maritime Week (SMW) 2019

very year, SMW gathers the international maritime community for a week of flagship conferences…

read more >

FPSO Brazil Congress 2019

Charging ahead with 24 planned orders by 2022, Brazil has once again solidified its status as one of the world’s foremost oil and gas leaders…

read more >