Helix viewed as ripe for takeover

Looking forward: analysts say Helix a prime takeover target

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News Wires

 04 January 2013 20:40 GMT

Helix Energy Solutions is reportedly turning into a takeover target after streamlining the company to focus on its expanding operations for offshore oil-well support.

The Houston-based company agreed last month to sell its oil-and-gas unit and earlier exited a pipelay business, helping Helix reduce debt and centre its operations on deep-water vessels and robotics for well maintenance. The divestments make the $2.2 billion company more appealing to a potential suitor such as Aker Solutions or Technip that may want to expand in marine contracting, Bloomberg quoted Capital One Financial as saying.

Helix also may attract other oilfield-services providers, according to Stephens, while Iberia Capital Partners says a rig owner such as…

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