DryShips Inc. DRYS will be acquired by SPII Holdings Inc. a company controlled by George Economou, under which SPII will acquire the outstanding shares for $5.25 per share in cash, without interest.
The deal is expected to close in the fourth quarter of 2019.
The $5.25 per share price represents a premium of approximately 66% over the company's $3.16 closing stock price on June 12.
DryShips shares were trading up 35.25% at $5.18 in Monday’s pre-market session. The stock has a 52-week high of $7.22 and a 52-week low of $3.08.
Related Links:
DryShips Shareholder SPII Holdings Offers $4 Per Share for Merger
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.