Saltchuk Resources to Acquire Great Lakes Dredge & Dock for $1.5 Billion

Great Lakes Dredge & Dock Corporation (GLDD) entered a merger agreement on February 11, 2026, to be acquired by Saltchuk Resources, Inc. in an all-cash deal valued at $1.5 billion.

Deal Structure:

Saltchuk will commence a tender offer to acquire all outstanding shares of Great Lakes Dredge & Dock for $17 per share in cash, representing a premium of 5.33% from the stock’s last close.

Company Profile:

Great Lakes Dredge & Dock is the largest provider of dredging services in the United States, specializing in capital and maintenance dredging, coastal protection, land reclamation, and marine infrastructure projects. The company serves government and private sector clients and is expanding into offshore energy services.

Saltchuk is a privately owned family of diversified freight transportation, marine services, and energy distribution companies, generating approximately $5.6 billion in annual revenue and employing about 8,800 people. Headquartered in Seattle, it provides strategic leadership to its independently operated businesses across North America.

Deal Details and Timeline:

The deal is expected to close in the second quarter of 2026.

The deal is backed by fully committed financing from Bank of America, Wells Fargo, U.S. Bank, and PNC.

Guggenheim Securities is serving as the financial advisor, and Sidley Austin is serving as the legal advisor to Great Lakes Dredge & Dock. Saltchuk is being advised financially by Evercore and legally by Fried, Frank, Harris, Shriver & Jacobson.

Saltchuk is paying 9.63 times EBITDA for Great Lakes Dredge & Dock.

Deal Metrics:

For more extensive details of this merger and acquisition transaction, please visit the Deal Metrics page here:

Deal Metrics for the acquisition of Great Lakes Dredge & Dock Corporation (GLDD) by Saltchuk Resources, Inc.

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• A chart showing the spread history of the merger from its announcement to completion or potential failure.
• A timeline of key events such as the end of the HSR period, regulatory approvals, shareholder votes, and more.
• News updates and SEC filings related to the deal.
• A comprehensive history of deal updates.
• And much more.

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Editor’s Note: Baranjot Kaur contributed to this article