Harvey Gulf makes late move for GulfMark Offshore

GulfMark Offshore has received an unsolicited proposal from Harvey Gulf to combine the two companies, just weeks after GulfMark had agreed a deal to be acquired via a merger with Tidewater.

Privately owned Harvey Gulf has proposed that GulfMark acquires it so that the combined company remains publicly listed. GulfMark stockholders would own 41.2% of the combined company, which would be valued at around $932m based on Harvey Gulf’s claimed enterprise value.

GulfMark says it will review the Harvey Gulf proposal in accordance with its fiduciary duties, although continues to believe that the Tidewater merger is in the best interests of shareholders. The board will continue to recommend that shareholders adopt the Tidewater merger agreement which is set to be voted on next quarter.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.
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