RE:Altagas holdings
"why would Tidewater want to hold on to $325 million worth of ALA?"
Because that was the deal on the table. Altagas was willing to pay half cash only. TWM took the deal and it makes sense.
Eventually ALA shares will be sold (potentially at a profit). In the meantime we earn some income on them, more or less offsetting some of our interest costs (incoming dividends are tax free while interest paid is tax deductible).