Great Lakes Dredge & Dock Corporation

Great Lakes Dredge & Dock Corporation specializes in marine construction, primarily dredging. The company is the largest provider of dredging services in the United States and has a history of performing significant international projects. Great Lakes is also expanding its core business into the offshore energy industry. The company's fleet is mobile, allowing it to move equipment to meet changing demand for dredging services. On February 10, 2026, Great Lakes entered into a Merger Agreement with Saltchuk Resources, Inc. and Huron MergeCo., Inc. Under this agreement, Huron MergeCo., Inc. will launch a tender offer to acquire all outstanding shares of Great Lakes' common stock at $17.00 per share. Following this offer, Huron MergeCo., Inc. will merge into Great Lakes, with Great Lakes becoming a wholly owned subsidiary of Saltchuk. This transaction is expected to finalize in the second quarter of 2026, contingent on customary closing conditions, including the tender of one share more than a majority of Great Lakes' outstanding common stock and necessary antitrust clearance. Upon closing, Great Lakes' common stock will be delisted from the Nasdaq Stock Market and deregistered. The Merger Agreement includes termination rights for both parties, and under certain termination circumstances, including those related to an alternative acquisition proposal, Great Lakes would be required to pay Saltchuk a termination fee of approximately $37 million.