Tidewater reports completion of merger with GulfMark
Nov. 16, 2018
Tidewater Inc. has announced the successful
completion of its business combination with GulfMark Offshore Inc.
Offshore staff
HOUSTON – Tidewater Inc. has announced the successful completion of its business combination with GulfMark Offshore Inc.
Tidewater and GulfMark stockholders overwhelmingly supported the business combination, with relevant proposals being approved by more than 99% of the votes cast by Tidewater stockholders and GulfMark stockholders, respectively.
Tidewater President and CEO John Rynd said: “We’re excited to welcome the GulfMark team to Tidewater, and we look forward to commencing the work of integrating our fleets and shore-based operations in order to quickly and fully realize the strategic and financial benefits of this business combination.
“A combined Tidewater and GulfMark will provide employees with more opportunities as part of a global leader with a deep commitment to safety and reliability, offer customers a broad range of highest quality, cost-effective support vessel services worldwide, and deliver to stockholders competitive returns on invested capital and scope for significant growth in revenue and free cash flow in an improving offshore market.”
