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Bulk liquid transporter Overseas Shipholding Group, Inc. (OSG) entered into a definitive merger agreement on May 20, 2024, to be acquired by Saltchuk Resources in an all-cash deal valued at about $950 million.
As per the agreement, Saltchuk will commence a tender offer to acquire all outstanding shares of the bulk carrier for $8.50 per share in cash, representing a premium of 23.91% from the stock’s last close.