Thursday, April 02, 2026
Joe Gomes, CFA, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Acquisition Completed. The acquisition of Great Lakes Dredge & Dock by Saltchuk Resources was completed on April 1st. Announced on February 11th, Saltchuk paid $17/sh for the outstanding GLDD stock, an enterprise value of approximately $1.5 billion.
Tender Offer. As of the expiration of the tender offer, approximately 53,738,558 shares of Great Lakes common stock were validly tendered and not validly withdrawn pursuant to the tender offer, representing approximately 79.88% of the issued and outstanding shares of Great Lakes common stock. As a result of the completion of the transaction, prior to the opening of trading on the NASDAQ on April 1, 2026, all shares of Great Lakes common stock ceased trading, and all shares of Great Lakes common stock will subsequently be delisted from NASDAQ and deregistered under the Securities Exchange Act of 1934.
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