Ahead of closing merger, Houston helicopter cos. plan share repurchases, reverse stock split

Houston-based Bristow Group Inc. plans to repurchase hundreds of thousands of shares in its stock as the company prepares to merge with Houston-based Era Group Inc. (NYSE: ERA), which has its own reverse stock split planned.

Bristow’s privately negotiated agreements would allow the company to repurchase 142,721 shares of its common stock and 98,784 shares of its preferred stock, according to a June 1 news release. The shares would be repurchased at an aggregate price of around $4.8 million.

The…