NEW YORK, July 18, 2018
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 email@example.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 firstname.lastname@example.org or fill out the form on our website, http://www.weisslawllp.com/gulfmark-offshore-inc/
SOURCE WeissLaw LLP
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