Weil Gotshal Manges Llp News

Parties say transaction could close on or about November 15, 2018.Offshore services providers Tidewater and GulfMark Offshore announced today the filing of the joint definitive proxy statement and prospectus with the U.S. Securities and Exchange Commission (SEC) regarding the pending business combination pursuant to which Tidewater has agreed to acquire all of GulfMark's outstanding shares in a stock for stock exchange. Both companies’ Boards of Directors continue to unanimously…

Tidewater Inc. and GulfMark Offshore, Inc. announced Monday that the boards of directors of both companies have unanimously approved a definitive agreement to combine the two companies, creating the industry’s largest owner of offshore support vessels and continuing consolidation in the offshore sector.The combined company will be operated under the Tidewater brand and will be led by Tidewater president and CEO John Rynd, with the industry’s largest fleet and the broadest global operating footprint in the OSV sector…

Norwegian Cruise Line Holdings Ltd (NCLH.O) said it would buy Prestige Cruises International Inc from its owner Apollo Global Management LLC (APO.N) in a $3 billion deal to expand its high-end luxury cruise offerings. Shares of Norwegian Cruise, the world's third-largest cruise operator, were up 13 percent at $37.57 in early trading. Prestige, which in January registered with U.S. regulators for an initial public offering, owns upper-premium cruise operator Oceania Cruises and luxury cruise operator Regent Seven Seas Cruises. The company operates eight ships, with about 6,500 berths.

Private equity firm Irving Place Capital (IPC) and Victor Technologies (Victor) announce they have entered into a definitive agreement to sell Victor to Colfax Corporation (Colfax), a global manufacturer of gas and fluid-handling and fabrication technology products. Victor is a leading designer and manufacturer of a comprehensive suite of metal cutting, gas control, and specialty welding products. IPC acquired Victor, which was previously named Thermadyne Holdings Corporation, in a take-private transaction in December 2010.

MC Shipping Inc. announced that, at a special meeting of shareholders held today, its shareholders approved the merger agreement pursuant to which Mast Acquisition Ltd., a newly-formed affiliate of Bear Stearns Merchant Banking ("BSMB"), will acquire the outstanding shares of MC Shipping for a price of $14.25 per share in cash. Approximately 97.5% of MC Shipping's common shares present and voting at the special meeting were voted in favor of the proposed merger, representing approximately 75.12% of the total number of common shares entitled to vote at the special meeting. In accordance with the terms of the merger agreement, MC Shipping expects to complete the merger within five business days, subject to satisfaction of the conditions to closing set forth in the merger agreement.