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Saltchuk Resources will acquire Great Lakes Dredge and Dock Corporation for $1.5 billion. This all-cash deal values the company at $17 per share, a 25 percent premium to its 90-day average price. Great Lakes operates a fleet of about 200 vessels and has a dredging backlog of $934.5 million.

Major ongoing projects include the Port Arthur LNG Phase 1 in Texas and the Brownsville Ship Channel. The acquisition is expected to close in Q2 2026 pending customary conditions. Saltchuk, based in Seattle, has annual revenues of around $5.6 billion and a diverse portfolio in marine services.