Great Lakes Dredge & Dock Completes $1.5B Acquisition by Saltchuk, Shares Delisted

summarizeSummary

Great Lakes Dredge & Dock Corporation announced the successful completion of its acquisition by Saltchuk Resources, Inc. for $17.00 per share, resulting in the company becoming a wholly-owned subsidiary and its shares being delisted from Nasdaq.

check_boxKey Events

• Acquisition Finalized

  Saltchuk Resources, Inc. has completed its acquisition of Great Lakes Dredge & Dock Corporation for $17.00 per share in cash, representing an enterprise value of approximately $1.5 billion.

• Tender Offer Successful

  The tender offer for GLDD shares expired on March 31, 2026, with 79.88% of outstanding shares validly tendered, satisfying all offer conditions.

• Delisting from Nasdaq

  Following the merger, Great Lakes Dredge & Dock's common stock will cease trading on Nasdaq and will be delisted and deregistered under the Securities Exchange Act of 1934.

• Wholly-Owned Subsidiary

  Great Lakes Dredge & Dock Corporation is now a wholly-owned subsidiary of Saltchuk Resources, Inc., operating as a standalone business unit.

auto_awesomeAnalysis

This filing confirms the finalization of the acquisition of Great Lakes Dredge & Dock by Saltchuk Resources, Inc. The tender offer for all outstanding shares at $17.00 per share has concluded, with approximately 79.88% of shares tendered, satisfying all offer conditions. The merger has been completed, and Great Lakes Dredge & Dock will now operate as a wholly-owned subsidiary of Saltchuk. This event marks the end of Great Lakes Dredge & Dock as a publicly traded company, with its shares ceasing to trade on Nasdaq and being delisted. The acquisition price of $17.00 per share is near the company's 52-week high, providing a favorable exit for shareholders.