Overseas Shipholding Group Inc. OSG shares are trading higher by 33% at $2.82 after Saltchuk Holdings reported it submitted a preliminary non-binding proposal to Overseas Shipholding Group's board to acquire all of the outstanding shares of the company not already owned for $3 per share.
Overseas Shipholding Group is a tanker company that owns and operates a fleet of oceangoing vessels. It provides energy transportation services, delivering crude oil and petroleum products. The company owns and operates a combined fleet of approximately 25 vessels registered in the United States.
Overseas Shipholding Group operates in the segment of the U.S. Flag Fleet. The majority of the company's revenue is generated in the form of time charters.
Overseas Shipholding Group has a 52-week high of $3.04 and a 52-week low of $1.76.
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