India, April 23 -- Helix Energy Solutions Group, Inc. (HLX) and Hornbeck Offshore Services, Inc. Thursday announced a definitive agreement to combine in an all-stock transaction.
The combined company will operate under the Hornbeck Offshore Services name and trade on the NYSE under the ticker symbol 'HOS.'
Upon closing of the transaction, Hornbeck shareholders will own approximately 55% and Helix shareholders will own approximately 45% of the combined company on a fully diluted basis.
Hornbeck stockholders would receive a fixed exchange ratio of 10.27167 shares of Helix common stock for each share of Hornbeck common stock owned. The merger is expected to be tax-free to shareholders.
The combined company will provide innovative and integ...