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“October lived up to its scary reputation—the S&P 500 falling in the month by the largest amount in the last 40 years, the only worse Octobers being ’08 and the Crash of ’87. For perspective, there have been only 5 occasions in those 40 years when the S&P 500 declined by greater than 20% from […]
NEW YORK, Nov. 12, 2018 -- Bragar Eagel & Squire, P.C. reminds investors that it is investigating potential claims on behalf of stockholders of GulfMark Offshore, Inc., MPM.
During the quarter, Tidewater (NYSE:TDW), which is the world's largest operator of offshore service vessels, reached an agreement to acquire smaller peer Gulfmark Offshore and continued to contribute strongly to Fund performance. Tidewater is in prime position to consolidate a beleaguered but recovering offshore supply vessel industry owing to its net cash balance sheet and right-sized cost structure, both of which were achieved through the bankruptcy process. Shortly after the Tidewater announcement, smaller industry peer Harvey Gulf International made a competing bid for Gulfmark, which is indicative of the amount of consolidation taking place in the offshore oil services industry today.