M&A
confidence high
sentiment positive
materiality 0.80
Tidewater completes acquisition of Swire Pacific Offshore for $42M cash and 8.1M warrants
TIDEWATER INC
- Acquisition of SPO adds 50 vessels, creating the world's leading OSV operator.
- Consideration: $42M cash plus 8.1M warrants with 25-year term, issued to seller.
- Expects approximately $45M in annual run-rate cost synergies from the combined company.
- Risk factors added: integration challenges, potential dilution from warrants, and share overhang.
- Registration rights granted to seller; warrants trade on NYSE.