DryShips Is Sailing After Buyout Deal for $5.25 a Share [TheStreet.com]
DRYSHIPS (DRYS)
US:NASDAQ Investor Relations:
dryships.irwebpage.com/ir.html
Company Research
Source: TheStreet.com
DryShips Is Sailing After Buyout Deal for $5.25 a Share Shares of DryShips ( DRYS The stock price of DryShips rose nearly 35% to $5.17 in premarket trading after the Athens-based company, which operates a fleet of tankers and other ocean-going cargo ships, announced a merger agreement with SPII holdings. DryShips closed Friday at $3.83 a share, up 2.13%. Under the deal, SPII, which is controlled by company chairman and CEO, George Economou, will shell out $5.25 for the remaining shares of DryShares stock it does not already own. The purchase price of $5.25 a share is a roughly 66% premium over DryShips closing price of $3.16 a share on June 12, with SPII having announced the next trading day its initial offer to acquire all the remain shares of the shipping firm, the company said. It also represents a 31% boost over the proposed purchase price in the initial offer, which stood at $4 a share. DryShips had formed a special committee of independent advisors to consider the offer, with th
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