Shares of boat dealer MarineMax Inc. (NYSE:HZO) are trading higher premarket Monday. OneWater Marine Inc. (NASDAQ:ONEW) is reportedly said to be in advanced discussions to acquire MarineMax.

OneWater has proposed an all-cash offer of $40 per share for MarineMax after months of private negotiations, according to a report from Bloomberg.

The merger would result in a combined company valued at approximately $2.5 billion, including debt. An official announcement could come as early as this month, though the deal is not yet finalized and talks may still collapse.

Meanwhile, OneWater issued a press release stating, "As a matter of policy, we do not comment on market rumors or speculation."

The potential acquisition would unite two of the largest U.S. boat dealers, a sector characterized by its fragmented nature and ripe for consolidation. The merger is expected to bring significant cost savings and boost long-term earnings for the combined entity, per the report.

Based in Buford, Georgia, OneWater has been on an expansion spree, acquiring several businesses, including the recent purchase of Garden State Yacht Sales.

OneWater operates a total of 96 retail locations, 10 distribution centers / warehouses and multiple online marketplaces in 18 different states.

Since 2014, OneWater has executed more than 30 acquisitions. OneWater said it has a strong balance sheet and will continue to prioritize judicious capital allocation and maintain appropriate levels of leverage while evaluating strategic opportunities.

Price Action: HZO shares are trading higher by 18.3% at $33.70 in premarket at the last check Monday, while ONEW is down 5.22% at $24.49.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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