Cal Dive International, the market leader in diving services for the oil and natural gas industry on the Gulf of Mexico Outer Continental Shelf, set the terms for its IPO on Wednesday. The Houston-based company plans to offer 22.2 million shares at a range of $14-$16. The deal has a proposed market cap of $1.3 billion and is being managed by Banc of America and JP Morgan. Timing has yet to be announced.
