Saltchuk Resources will commence an all-cash tender offer to acquire Great Lakes Dredge and Dock at $17.00 per share, implying an equity value of approximately $1.2 billion and a total transaction value of $1.5 billion. The offer price represents a 25% premium to the 90-day volume-weighted average price and a 5% premium to the company’s record high closing price. The transaction has been unanimously approved by both Great Lakes and Saltchuk boards and is expected to close in Q2 2026, subject to Hart-Scott-Rodino Act clearance and tendering of shares representing a majority of outstanding stock. Following the tender, Saltchuk will complete a second-step merger to acquire any remaining shares and delist Great Lakes from Nasdaq. Post-closing, Great Lakes will operate as a standalone business within Saltchuk’s diversified portfolio, preserving its leadership in U.S. dredging and offshore energy expansion. The agreement secures immediate cash value for roughly 1,200 employees and aligns with both companies’ focus on safety, community engagement and long-term growth.