Helix Energy rises on all‑stock merger deal with Hornbeck Offshore

Hornbeck Offshore Services

23/04/2026 12:21

** Shares of offshore drilling services provider Helix Energy HLX.N up 3.2% at $9.94 premarket

** Co has agreed to combine with Hornbeck Offshore Services in an all-stock transaction

** Under the terms, Hornbeck stockholders would receive a fixed exchange ratio of 10.27167 shares of Helix common stock for each share of Hornbeck common stock owned

** Upon closing of transaction, Hornbeck shareholders will own about 55% and Helix shareholders will own nearly 45% of the combined company on a fully diluted basis

** Transaction is expected to generate $75 million or more in annual revenue and cost synergies within three years following close

** The transaction is expected to close in the second half of 2026

** As of last close, HLX up 53.6% YTD

 (Reporting by Sumit Saha in Bengaluru)

 ((Sumit.Saha@thomsonreuters.com;))