Overseas Shipholding Group (OSG) Announces Receipt of Unsolicited Non-Binding Acquisition Proposal and Exploration of Strategic Alternatives

  • July 5, 2021

POTENTIAL DEAL DETAILS

StockOverseas Shipholding Group, Inc.SymbolOSG
Date Announced07/02/2021Source Press Release
TypeUnsolicited BidAcquiring Company/Person N/A

Overseas Shipholding Group, Inc. (OSG), a public company focused on providing energy transportation services for crude oil and petroleum products primarily in the U.S. Jones Act market, announced that, following receipt by the Saltchuk holdings of a non-binding indication of interest to acquire all of the issued and outstanding shares of common stock of the Company for a price of $3.00 per share, OSG’s Board of Directors has commenced a strategic process to explore, review and evaluate a range of strategic alternatives available to the Company to enhance shareholder value, including the non-binding indication of interest.

Update(s):

September 08, 2021: Saltchuk Holdings has notified the Issuer that, in light of continued uncertainty with respect to the pace and trajectory of the global pandemic recovery and its effects on the Issuer’s business and operations, Saltchuk Holdings is suspending discussions with the Issuer regarding a possible acquisition of its outstanding common stock.

September 09, 2021: Overseas Shipholding Group, Inc. (OSG), a public company focused on providing energy transportation services for crude oil and petroleum products primarily in the U.S. Jones Act market, announced that the strategic process to explore, review and evaluate a range of strategic alternatives available to the Company to enhance shareholder value that OSG’s Board of Directors had previously commenced, is continuing.

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