Why Gener8 Maritime Inc's Shares Popped 36% Today [The Motley Fool]
GENER 8 MARITIME INC (GNRT)
Last gener 8 maritime inc earnings: 5/9 05:27 pm
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Source: The Motley Fool
European firm Euronav has agreed to buyout Gener8 Maritime for a big premium. Travis Hoium ( TMFFlushDraw ) Dec 21, 2017 at 3:35PM What happened Shares of crude oil tanker owner Gener8 Maritime Inc's ( NYSE:GNRT ) shares popped as much as 35.5% in trading Thursday after a takeover bid was announced. At 2:30 p.m. EST shares were still up 29.3% on the day. So what Belgian firm Euronav is the company buying Gener8 and the transaction announced will have shareholders getting 0.7272 shares of Euronav for each share of Gener8. Once completed, Gener8 shareholders will own 28% of Euronav's shares outstanding. Image source: Getty Images. Gener8 shareholders will get a vote on the deal, but Euronav announced that about 48% of shareholders are already committed or are expected to commit to voting for the deal. Now what There's no gu
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