Helix-Hornbeck all-stock merger: Hornbeck owners get 55%, Helix 45% - $75M annual synergies

HELIX ENERGY SOLUTIONS GROUP INC

Fixed exchange ratio: 10.27167 Helix shares per Hornbeck share; pro forma ownership 55% Hornbeck, 45% Helix.
Expected $75M+ in annual revenue and cost synergies within three years of close.
Post-close, combined company to operate as Hornbeck Offshore Services, trade as 'HOS' on NYSE; Todd Hornbeck CEO.
Closing expected H2 2026, subject to Helix shareholder vote, regulatory approvals, and other conditions.
Ares Management funds representing significant Hornbeck ownership have consented to the transaction.

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