Great Lakes Dredge to be acquired by Saltchuk Resources for $17.00 per share in all-cash deal; expected close Q2 2026

Great Lakes Dredge & Dock CORP

Saltchuk Resources to acquire GLDD via tender offer at $17.00 per share cash; no financing condition; expected close Q2 2026.
Termination fee of ~$36.9M payable by GLDD under certain circumstances; board recommends shareholders tender shares.
Named NEOs to receive transaction bonuses totaling ~$677k: Petterson $224k, Kornblau $132k, Gunsten $98k, Johanson $98k, Schiffer $124k.
CEO Petterson, CFO Kornblau, and EVP Schiffer waived 'good reason' post-close; eligible for retention bonuses of $5.8M, $1.2M, $1.1M respectively.
Board terminated equity plans; outstanding RSUs cashed out at $17.00; ESPP final purchase date accelerated.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Great Lakes Dredge & Dock CORP entered into Agreement and Plan of Merger with Saltchuk Resources, Inc. and Huron MergeCo., Inc. (effective 2026-02-10).

Action: entry
Agreement: merger
Counterparty: Saltchuk Resources, Inc. and Huron MergeCo., Inc.
Effective: 2026-02-10

Exact text from the filing

On February 10, 2026, Great Lakes Dredge & Dock Corporation, a Delaware corporation (the “Company”), entered into an Agreement and Plan of Merger (the “ Merger Agreement ”), by and among the Company, Saltchuk Resources, Inc., a Washington corporation (“ Parent ”), and Huron MergeCo., Inc., a Delaware corporation and a wholly owned subsidiary of Parent (“ Sub ”).

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Source: SEC EDGAR

accession 0001193125-26-045567

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