EXHIBIT 99.1
[Seacor logo] PRESS RELEASE
Contact: Randall Blank (SEACOR Holdings Inc., (212) 307-6633)
Jack O'Connell (Seabulk International, Inc., (954) 524-4200, x224)
SEACOR HOLDINGS INC. AND SEABULK INTERNATIONAL, INC.
ANNOUNCE EARLY TERMINATION OF HART-SCOTT-RODINO FILING
Fort Lauderdale, FL, April 22, 2005 -- SEACOR Holdings Inc.
(NYSE:CKH) and Seabulk International, Inc. (NASDAQ: SBLK) announced today that
they have been granted early termination of the waiting period under the
Hart-Scott-Rodino Antitrust Improvements Act. This means that one of the key
conditions for the closing of the previously announced merger agreement between
the two companies has been satisfied. The merger is expected to be consummated
by the end of the second quarter of 2005, subject to approval by SEACOR's
stockholders of the issuance of shares of SEACOR common stock in the merger and
by Seabulk's stockholders of the merger, as well as the satisfaction of
customary closing conditions, in accordance with the terms of the merger
agreement.
Additional Information About This Transaction
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In connection with the proposed merger, SEACOR has filed with the SEC
a Registration Statement on Form S-4 that includes a joint proxy statement of
SEACOR and Seabulk that also constitutes a prospectus of SEACOR. SEACOR and
Seabulk will mail the joint proxy statement/prospectus to their stockholders.
Investors and security holders are urged to read the joint proxy
statement/prospectus regarding the proposed merger when it becomes available
because it will contain important information. You may obtain a free copy of the
joint proxy statement/prospectus (when available) and other related documents
filed by SEACOR and Seabulk with the SEC at the SEC's website at www.sec.gov.
The joint proxy statement/prospectus and the other documents may also be
obtained for free by accessing SEACOR's website at www.seacorholdings.com or by
accessing Seabulk's website at www.seabulkinternational.com.
This communication shall not constitute an offer to sell or the
solicitation of an offer to buy securities, nor shall there be any sale of
securities in any jurisdiction in which such solicitation or sale would be
unlawful prior to registration or qualification under the securities laws of
such jurisdiction.
Participants in the Solicitation
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SEACOR and Seabulk and their respective directors, executive officers
and certain other persons may be deemed to be participants in the solicitation
of proxies from their respective stockholders in connection with the proposed
transactions. Information regarding such persons and a description of their
direct and indirect interests, by security holdings or otherwise, are contained
in the joint proxy statement/prospectus and other relevant materials filed with
the SEC. You can obtain free copies of these documents from SEACOR and SEABULK
using the contact information above.
About SEACOR:
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SEACOR and its subsidiaries are engaged in the operation of a
diversified fleet of offshore support vessels that service oil and gas
exploration and development activities in the U.S. Gulf of Mexico, the North
Sea, West Africa, Asia, Latin America and other international regions. Other
business activities primarily include Environmental Services, Inland River
Services, and Aviation Services. Visit SEACOR on the Web at
www.seacorholdings.com.
About Seabulk:
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With a fleet of 147 vessels, including ten Jones Act U.S. product
tankers, two foreign-flag product tankers, 109 offshore support vessels, and 26
tugs, Seabulk International is a leading provider of marine support and
transportation services, primarily to the energy and chemical industries. We
provide benchmark quality service to our customers based on innovative
technology, the highest safety standards, modern efficient equipment and
dedicated, professional employees. Visit Seabulk on the Web at
www.seabulkinternational.com.
Forward-Looking Information
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This release contains forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995. Such statements
include, but are not limited to, statements about the benefits of the
contemplated transaction between SEACOR and Seabulk, including financial and
operating results, the parties' plans, objectives, expectations and intentions
and other statements that are not historical facts. Such statements are based
upon the current beliefs and expectations of SEACOR's and Seabulk's respective
managements and are subject to significant risks and uncertainties. Actual
results may differ materially from those set forth in the relevant
forward-looking statements. The transaction is subject, among other things, to
approval by SEACOR's stockholders of the issuance of shares of SEACOR common
stock in the merger, approval by Seabulk's stockholders of the merger, and the
receipt of other required consents and approvals. Additional factors that could
cause SEACOR's results to differ materially from those described in the
forward-looking statements can be found in SEACOR's Annual Report on Form 10-K
and Form 10-K/A for the fiscal year ended December 31, 2004. Additional factors
that could cause Seabulk's results to differ materially from those described in
the forward-looking statements can be found in Seabulk's Annual Report on Form
10-K and Form 10-K/A for the fiscal year ended December 31, 2004.
The companies disclaim any obligation or undertaking to disseminate
any updates or revisions to any forward-looking statements to reflect any change
in the companies expectations or any change in events, conditions or
circumstances on which any such statements are based.
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