Saltchuk to acquire Great Lakes Dredge & Dock (NASDAQ: GLDD)
Rhea-AI Filing Summary
Great Lakes Dredge & Dock Corporation reports that, as previously announced, it entered into a definitive agreement on February 10, 2026 to be acquired by Saltchuk Resources, Inc. at an aggregate equity value of approximately $1.2 billion and a total transaction value of $1.5 billion.
Because of this pending transaction, the company will not hold its previously scheduled earnings call on February 17, 2026. It still expects to release financial results for the three and twelve months ended December 31, 2025 in connection with filing its Annual Report for that period.
Positive
- Transformative acquisition valuation: Great Lakes Dredge & Dock Corporation has agreed to be acquired by Saltchuk Resources, Inc. at an aggregate equity value of approximately $1.2 billion and a total transaction value of $1.5 billion, representing a significant change in ownership and potential value realization for shareholders.
Negative
- None.
Insights
GLDD highlights its pending $1.5B sale to Saltchuk and cancels an upcoming earnings call.
Great Lakes Dredge & Dock Corporation reiterates that it agreed to be acquired by Saltchuk Resources, Inc. with an aggregate equity value of about $1.2 billion and a total transaction value of $1.5 billion. This signals a change from standalone operations to ownership under a strategic buyer.
The company also states it will not hold its earnings call previously set for February 17, 2026, citing the pending transaction. However, it still plans to release financial results for the three and twelve months ended December 31, 2025 when it files its Annual Report, which will give investors one more full-year look at performance before the acquisition closes.
8-K Event Classification
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
Commission file number:
(Exact name of registrant as specified in its charter)
| (State or other jurisdiction of incorporation or organization) | (Commission File Number) | (I.R.S. Employer Identification No.) |
| (Address of principal executive offices) | (Zip Code) |
(Registrant’s telephone number, including area code)
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 8.01 Other Events.
As previously announced, on February 10, 2026, Great Lakes Dredge & Dock Corporation entered into a definitive agreement to be acquired by Saltchuk Resources, Inc. at an aggregate equity value of approximately $1.2 billion and a total transaction value of $1.5 billion.
Due to the pending transaction, the Company will no longer hold its previously announced earnings call scheduled for February 17, 2026. The Company is expecting to release its financial results for the three and twelve months ended December 31, 2025 in due course in connection with the filing of its Annual Report for the same period.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
| GREAT LAKES DREDGE & DOCK CORPORATION | |||
| By: | /s/ SCOTT KORNBLAU | ||
| Scott Kornblau | |||
| Senior Vice President and Chief Financial Officer | |||
Date: February 12, 2025