NEW YORK, July 18, 2018 /PRNewswire/ -- WeissLaw LLP is
investigating possible breaches of fiduciary duty and other
violations of law by the Board of Directors of GulfMark Offshore,
Inc. ("GLF" or the "Company") (NYSE: GLF) in connection with the
proposed acquisition of the Company by Tidewater Inc. ("TDW")
(NYSE: TDW). Under the terms of the merger agreement, GLF
shareholders will receive 1.10 shares of TDW for each GLF share
they own. This represents consideration of $33.68 per share, based on TDW's July 13 closing price of $30.62.
WeissLaw is investigating whether GLF's Board acted to maximize
shareholder value prior to entering into the agreement.
Notably, at least one analyst set a target price of $42.00 per share, or $8.32 above the consideration.
Additionally, the Company recently announced positive financial
results for the three-month period ending March 31, 2018, reporting sequential growth of
13% in average day rates.
Finally, at closing, GLF shareholders will own a meager 26% of
the combined company on a fully diluted basis.
Given these facts, WeissLaw is investigating whether GLF's
shareholders will obtain their fair and proportionate share of the
Company's continued success and growth prospects. If you own
GLF shares and would like more information about your rights or our
investigation, or if you have information to share with us, please
contact Joshua Rubin by
telephone at (888) 593-4771 or by email at
stockinfo@weisslawllp.com.
WeissLaw LLP has litigated hundreds of stockholder class and
derivative actions for violations of corporate and fiduciary
duties. We have recovered over a billion dollars for
defrauded clients and obtained important corporate governance
relief in many of these cases. If you have information or
would like legal advice concerning possible corporate wrongdoing
(including insider trading, waste of corporate assets, accounting
fraud, or materially misleading information), consumer fraud
(including false advertising, defective products, or other
deceptive business practices), or anti-trust violations, please
email us at stockinfo@weisslawllp.com or fill out the
form on our website,
http://www.weisslawllp.com/gulfmark-offshore-inc/
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SOURCE WeissLaw LLP