Overseas Shipholding Group Enters Into a Definitive Agreement to Be Acquired by Saltchuk Resources for $8.50/ Share in Transaction Valued at $950M
Portfolio Pulse from Benzinga Newsdesk
Overseas Shipholding Group (NYSE:OSG) has entered into a definitive agreement to be acquired by Saltchuk Resources for $8.50 per share, valuing the transaction at $950 million. The purchase price represents significant premiums over recent trading prices.
May 20, 2024 | 11:32 am
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Overseas Shipholding Group (NYSE:OSG) is set to be acquired by Saltchuk Resources for $8.50 per share, representing a 61% premium over its 30-day volume-weighted average price. This acquisition is valued at $950 million.
The acquisition by Saltchuk Resources at a significant premium is likely to drive OSG's stock price up in the short term as investors react positively to the premium offer.
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