DryShips Inc. Announces Completion of Acquisition by SPII Holding Inc.
DRYSHIPS (DRYS)
US:NASDAQ Investor Relations:
dryships.irwebpage.com/ir.html
Company Research
Source: GlobeNewswire
ATHENS, Greece, Oct. 11, 2019 (GLOBE NEWSWIRE) -- DryShips Inc. (the “Company”) (NASDAQ: DRYS), a diversified owner and operator of ocean going cargo vessels, today announced the completion of its acquisition by SPII Holdings Inc. (“SPII”), a company that may be deemed to be beneficially owned by the Company’s Chairman and Chief Executive Officer, Mr. George Economou, pursuant to the merger (the “Merger”) of Sileo Acquisitions Inc., a wholly owned subsidiary of SPII (“Merger Sub”), with and into the Company pursuant to the previously announced Agreement and Plan of Merger, entered into on August 18, 2019 (the “Merger Agreement”), by and among the Company, SPII and Merger Sub. In the Merger, all outstanding shares of common stock, $0.01 par value, of the Company not owned by SPII were converted into the right to receive $5.25 per share in cash, without interest. The transaction was approved by the Company’s stockholders on October 9, 2019. In connection with the completion of the tr
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