Great Lakes Dredge & Dock: Saltchuk To Acquire U.S. Dredging Contractor In $1.5 Billion All Cash Deal

2026-02-24 05:36:20

Saltchuk Resources, a privately held family company, has agreed to acquire Great Lakes Dredge & Dock Corporation, the largest provider of dredging services in the U.S., in an all-cash deal valued at $1.5 billion. Saltchuk will launch a tender offer to purchase all outstanding Great Lakes shares for $17.00 per share, a 25% premium over its 90-day volume-weighted average price. The transaction, unanimously approved by both boards, is expected to close in the second quarter of 2026, after which Great Lakes will operate as a standalone business within Saltchuk.

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