Saltchuk Welcomes Overseas Shipholding Group to Its Family of Companies
Overseas Shipholding Group, Inc. Class A (OSG)
US:NYSE Investor Relations:
osg.com/investor-relations
Company Research
Source: Business Wire
SEATTLE & TAMPA, Fla.--(BUSINESS WIRE)--Saltchuk Resources, Inc. (“Saltchuk”) today announced that it has successfully completed its previously announced tender offer to acquire all of the outstanding shares of common stock of Overseas Shipholding Group, Inc. (NYSE: OSG) not already owned by Saltchuk for a purchase price of $8.50 per share in cash, an enterprise value of approximately $950 million. The transaction closed this morning, and OSG is now a wholly owned subsidiary of Saltchuk.“With OSG, Saltchuk now numbers more than 8,500 people who share one thing in common: every day we strive to safely, responsibly, and reliably perform our services,” Saltchuk Chairman Mark Tabbutt stated. “As with our other businesses, OSG will remain standalone and independently managed. We look forward to working alongside the OSG team as we move forward together.”OSG joins Saltchuk as its seventh business unit, adding energy shipping to its diversified lines of business which include domestic sh
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