DryShips Enters Into Definitive Merger Agreement with SPII Holdings, DryShips Public Shareholders to Receive $5.25 per Share in Cash Transaction Unanimously Recommended by DryShips Special...
DRYSHIPS (DRYS)
US:NASDAQ Investor Relations:
dryships.irwebpage.com/ir.html
Company Research
Source: GlobeNewswire
ATHENS, Greece, Aug. 19, 2019 (GLOBE NEWSWIRE) -- DryShips Inc. (the “Company”) (NASDAQ: DRYS) today announced that it had entered into an Agreement and Plan of Merger (the “Merger Agreement”) with SPII Holdings Inc. (“SPII”), a company controlled by the Company’s Chairman and Chief Executive Officer, George Economou, under which SPII will acquire the outstanding shares of the Company that it does not already own for $5.25 per share in cash, without interest. The $5.25 per share price represents a premium of approximately 66% over the Company’s $3.16 closing stock price on June 12, 2019, the last trading day before the Company’s announcement of SPII’s initial offer to acquire all shares of the Company common stock not owned by SPII (the “Initial Offer”), The $5.25 per share price reflects an increase of approximately 31% over the purchase price of $4.00 per share proposed in the Initial Offer. As previously disclosed, the Company’s Board of Directors formed a Special Committee of
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