Stock Track | Helix Energy Solutions Soars 6.23% in Pre-Market on Merger Deal with Hornbeck Offshore

Stock Track04-23

Helix Energy Solutions Group Inc. (HLX) surged 6.23% in pre-market trading following the announcement of a definitive agreement to merge with Hornbeck Offshore Services in an all-stock transaction.

The strategic combination aims to create a premier integrated offshore services company. Under the terms, Hornbeck stockholders will receive a fixed exchange ratio of 10.27167 shares of Helix common stock for each Hornbeck share. Upon closing, Hornbeck shareholders will own approximately 55% of the combined entity, with Helix shareholders owning about 45%.

The transaction is expected to generate at least $75 million in annual revenue and cost synergies within three years after close, which is anticipated in the second half of 2026. The combined company will operate as Hornbeck Offshore Services and trade on the New York Stock Exchange under the ticker "HOS."

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