July 1, 2005
Seabulk acquisition complete
Seabulk International, Inc. and SEACOR Holdings Inc. (NYSE: CKH) today announced that the merger of Seabulk with a wholly owned subsidiary of SEACOR has been completed.
Under the terms of the merger, Seabulk's stockholders will receive 0.2694 of a share of SEACOR common stock plus cash of $4.00 for each issued and outstanding share of Seabulk common stock. Based on SEACOR's closing price of $64.30 on June 30, 2005, Seabulk stockholders will receive approximately $21.32 in SEACOR stock and cash for each share of Seabulk. Seabulk stock ceased trading at the close of business on June 30, 2005.
Seabulk will now operate as a wholly owned subsidiary of SEACOR.