Saltchuk Resources, Inc. and Great Lakes Dredge & Dock Corporation Announce Commencement of Tender Offer for All Issued and Outstanding Shares of Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD)

Company Overview - Saltchuk Resources, Inc. is a privately owned family of diversified freight transportation, marine service, and energy distribution companies, with consolidated annual revenue of approximately $5.6 billion and 8,800 employees [9] - Great Lakes Dredge & Dock Corporation (GLDD) is the largest provider of dredging services in the United States, with a history of significant international projects and a commitment to expanding into the offshore energy industry [10] Merger Announcement - Saltchuk's wholly-owned subsidiary, Huron MergeCo., Inc., commenced a tender offer for all issued and outstanding shares of GLDD at a price of $17.00 per share in cash [1] - The GLDD Board of Directors has unanimously determined that the Merger Agreement and the Offer are in the best interests of GLDD's stockholders and recommends that stockholders tender their shares [2] Offer Details - The tender offer will expire at one minute after 11:59 p.m. New York City time on March 31, 2026, unless extended or terminated earlier [3] - The acceptance and payment for shares tendered in the offer are subject to conditions, including a minimum tender condition and other customary conditions for transactions of this type [4] Post-Merger Structure - Upon completion of the offer and satisfaction of certain conditions, Purchaser will merge with GLDD, with GLDD continuing as the surviving entity, and outstanding shares will be cancelled and converted into the right to receive the offer price [4]