Deal Snapshot
SPII HOLDINGS TO ACQUIRE REMAINING STAKE IN DRYSHIPS
Thursday 22 August 2019

Greek shipping company DryShips Inc. (NASDAQ: DRYS) has entered into an agreement with SPII Holdings Inc., 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 USD 5.25 per share in cash, without interest, the company said.
The USD 5.25 per share price represents a premium of approximately 66% over the company's USD 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 USD 5.25 per share price reflects an increase of approximately 31% over the purchase price of USD 4.00 per share proposed in the initial offer.


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Details
Date Published: 22/08/2019
Target: DryShips Inc.
Country: Greece
Deal Size: 440m (USD)
Sector: Water Transport
Type: Corporate acquisition
Financing: Cash
Status: Agreed
Vendor:
Buyer: SPII Holdings Inc
Buyer Advisor: Orrick, Herrington and Sutcliffe
Comment:


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