Kistefos AS said that it has commenced an action in the Delaware Court of Chancery to obtain a declaration that Trico Marine has no right to bar its stockholders from voting on a proposal to amend the company's bylaws at its 2009 annual meeting. Kistefos is also seeking an injunction requiring that the proposal be placed before the meeting. Kistefos owns 3,535,959 shares (22.2%).

its down

With shares at about 38, the company's enterprise value is roughly 5.6 times the $266 million Imperial Capital expects it to earn before interests, taxes, depreciation and amortization for fiscal 2009. That compares to the 6.6 times multiple for towing and supply companies and 7.6 times multiple for sub sea services, and Imperial Capital analyst Randy Laufman argues that Trico "deserves a higher multiple given it is now primarily a sub sea-services company." His price target: 52.

Shipping Oil

Oil services provider in a niche market that is destined to grow.

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Downgraded by Lehman Brothers from Overweight to Equal-weight

P/E: 10.6
Op.Margin: 37%
In a 13G filing after the close on March 12, SAC Capital/Steven A. Cohen disclosed a 5.9% stake (884K shares) in the company. The firm did not show an active stake in TRMA for the quarter ended December 31, 2006.
TRMA made an all-time high today.

The drilles need to move their rigs and they need supplies. Trico is undervalued compared to the market and could be a potential take out target.

Trico Marine Services (TRMA)
Top shareholder Kistefos suggested TRMA sell itself and return cash to shareholders via a dividend or stock buyback. Kistefos owns 3 million shares (20.2%).

Recent downtrend in an energy company