Tidewater stock jumps before U.S. open after $500 million Brazil vessel deal
Tidewater shares rose 7.6% to $78.91 in extended trading after it agreed to buy Brazil’s Wilson Sons Ultratug Offshore and Atlantic Offshore Services for about $500 million, including debt. The deal adds 22 platform supply vessels and $441 million in contracted backlog. Tidewater expects $220 million in revenue from the acquired business in the first year. Investors await Brazil antitrust and lender approvals before a late-Q2 close.