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    Seacor and Seabulk complete merger

    News // July 22, 2005
    Seabulk International and Seacor Holdings in the US have 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 US$4.00 for each issued and outstanding share of Seabulk common stock.

    Based on Seacor's closing price of US$64.30 on June 30th, Seabulk stockholders will receive approximately US$21.32 in Seacor stock and cash for each share of Seabulk.

    Seabulk stock ceased trading at the close of business on June 30th, 2005.

    Seabulk will now operate as a wholly owned subsidiary of SEACOR.

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