Bloomberg Law
June 11, 2020, 8:26 PM

Bristow Group Sued for Records Over Era Merger Payout Preference

Mike Leonard
Mike Leonard
Legal Reporter

Bristow Group Inc., which provides industrial helicopter services, was sued for records in Delaware by a shareholder looking to probe suspicions that its board gave preferred investors more shares than necessary in its merger with Era Group Inc.

The Chancery Court lawsuit targets the all-stock deal, scheduled to close Thursday, which valued Bristow at $876 million. The merger technically made it a subsidiary of Era—one of the world’s largest helicopter fleet operators—and then renamed the combined company Bristow.

Following the deal, the new Bristow will be 23% owned by former Era shareholders and 77% controlled by former Bristow investors, ...