Subscribe Today

Get our free articles delivered directly to your email!

Continue reading

DryShips (DRYS) approached by SPII Holdings

  • June 14, 2019


Stock DryShips Inc. Symbol DRYS
Date Announced 06/13/2019 Source Press release
Type Unsolicited Bid Acquiring Company/Person SPII Holdings Inc.
Date of Confirmation: 08/19/2019 Price at Confirmation: $5.16
Potential Profit: 32.99% Annualized Profit: 179.72%

DryShips Inc. (DRYS), a diversified owner and operator of ocean-going cargo vessels, today announced it has received a non-binding offer letter from SPII Holdings Inc., a company controlled by our Chairman and Chief Executive Officer, Mr. George Economou, which proposes a transaction pursuant to which the Company would be merged into a subsidiary of SPII Holdings. The board of directors of the Company has formed a special committee consisting solely of disinterested directors to consider the proposal.


August 19, 2019: DryShips Inc. (DRYS) today announced that it had entered into an Agreement and Plan of Merger 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 $5.25 per share in cash, without interest.

Disclaimer: Our intent with this section of the website is to present potential deals that appear to be in the pipeline. These potential deals are ones where i) the company has indicated that it is "seeking strategic alternatives", ii) there has been an unsolicited bid for a company as mentioned in a press release by the company or iii) news about the deal has been published by a leading news organization like The Wall Street Journal, The New York Times, Bloomberg, Financial Times, The Washington Post, Reuters and The Associated Press. As best as possible we will try to avoid baseless rumors. There is a high probability that many of these potential deals may not materialize and if they do, the terms of the deal may be different from what was initially reported. Please do your own due diligence before buying or selling any securities mentioned on this website. We do not warrant the completeness or accuracy of the content or data provided.