Cal Dive and Horizon Receive Second Request Under Hart-Scott-Rodino Merger Notification
September 28 2007 - 4:38PM
PR Newswire (US)
HOUSTON, Sept. 28 /PRNewswire-FirstCall/ -- Cal Dive International,
Inc. (NYSE:DVR) and Horizon Offshore, Inc. (NASDAQ:HOFF) announced
today that they have each received a request for additional
information (commonly referred to as a "second request") from the
Antitrust Division of the U.S. Department of Justice regarding Cal
Dive's pending acquisition of Horizon. The information request was
issued under the notification requirements of the Hart-Scott-Rodino
Antitrust Improvements Act of 1976, as amended, and has the effect
of extending the waiting period for a period of 30 calendar days
from the date of the parties' substantial compliance with the
request. Both parties intend to continue to work cooperatively to
respond to the request and obtain termination of the waiting period
as soon as practicable. Cal Dive International, Inc., headquartered
in Houston, Texas, is a marine contractor that provides manned
diving, pipelay and pipe burial services to the offshore oil and
gas industry on the Gulf of Mexico Outer Continental Shelf, the
Middle East, Southeast Asia and Australia, with a fleet of 26
vessels, including 23 surface and saturation diving support vessels
as well as three shallow water pipelay vessels. Horizon Offshore,
Inc., headquartered in Houston, Texas, provides marine construction
services for the offshore oil and gas and energy industries. The
Company's fleet of nine vessels is used to perform a wide range of
marine construction services, including installation and repair of
marine pipelines to transport oil and gas and other subsea
production systems, and the installation and abandonment of
production platforms, in the Gulf of Mexico, Latin America,
Southeast Asia/Mediterranean, and West Africa. CAUTIONARY STATEMENT
This press release may include "forward-looking" statements that
are generally identifiable through our use of words such as
"believe," "expect," "anticipate," "intend," "plan," "estimate,"
"project" and similar expressions and include any statements that
we make regarding our earnings expectations. The forward-looking
statements speak only as of the date of this release, and we
undertake no obligation to update or revise such statements to
reflect new information or events as they occur. Our actual future
results may differ materially due to a variety of factors,
including changes in the level of offshore exploration, development
and production activity in the oil and natural gas industry, our
inability to obtain contracts with favorable pricing terms if there
is a downturn in our business cycle, intense competition in our
industry, the operational risks inherent in our business, risks
associated with our relationship with Helix Energy Solutions Group,
Inc., our controlling stockholder, and other risks detailed in our
2006 Annual Report on Form 10-K. DATASOURCE: Cal Dive
International, Inc. CONTACT: G. Kregg Lunsford, Chief Financial
Officer of Cal Dive International, Inc., +1-281-618-0516; or Ronald
D. Mogel, Chief Financial Officer of Horizon Offshore, Inc.,
+1-713-243-2753 Web site: http://www.caldive.com/
Copyright
Horizon Offshore (MM) (NASDAQ:HOFF)
Historical Stock Chart
From Jul 2024 to Aug 2024
Horizon Offshore (MM) (NASDAQ:HOFF)
Historical Stock Chart
From Aug 2023 to Aug 2024