Texas Capital Downgrades Great Lakes Dredge & Dock Corporation (GLDD) to Hold with a $17 Price Target

On February 12, 2026, Texas Capital expert Alex Rygiel downgraded Great Lakes Dredge to Hold from Buy with a $17 terms people aft Saltchuk Resources announced a definitive statement to get the institution for $17 per stock successful cash.

The announcement followed a February 11, 2026, associated connection from Great Lakes Dredge & Dock Corporation and Saltchuk Resources outlining a transaction with an aggregate equity worth of astir $1.2 cardinal and a full worth of $1.5 billion. Saltchuk volition motorboat a tender connection to acquisition each outstanding shares astatine $17.00 per stock successful cash, representing a 25% premium to Great Lakes’ 90-day volume-weighted mean terms arsenic of February 10, 2026, and a 5% premium to its all-time precocious closing price.

The boards of some companies unanimously approved the statement and urge shareholders tender their shares. The connection is expected to adjacent successful the 2nd 4th of 2026, taxable to customary conditions including the expiration of the Hart-Scott-Rodino Act waiting play and the tender of a bulk of outstanding shares. After completion of the tender offer, Saltchuk volition get the remaining shares done a second-step merger astatine the aforesaid price. Upon closing, Great Lakes volition run arsenic a standalone concern wrong Saltchuk and volition nary longer beryllium listed connected Nasdaq.

Great Lakes Dredge & Dock Corporation (NASDAQ:GLDD) provides dredging services successful the United States, including larboard expansion, coastal restoration, onshore reclamation, and marine infrastructure projects.

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Disclosure: None.