B+H Ocean Carriers Ltd. announced that it will commence a modified "Dutch Auction" tender offer to purchase up to 600,000 shares of its common stock at a price per share not less than $4.00 and not greater than $5.00. The tender offer is expected to begin on October 20, 2008, and to expire on November 17, 2008, at 12:00 midnight, time, unless extended. BHO will purchase up to 600,000 common shares in the offer (representing approximately 8.8% of BHO's outstanding common shares). Tenders of shares must be made prior to the expiration of the tender offer and may be withdrawn at any time prior to that time. On the terms and subject to the conditions of the tender offer, BHO's stockholders will have the opportunity to tender some or all of their shares at a price within the $4.00 to $5.00 per share range. Based on the number of shares tendered and the prices specified by the tendering stockholders, BHO will determine the lowest per share price within the range that will enable it to buy 600,000 shares, or such lesser number of shares that are tendered and not withdrawn. All shares accepted in the tender offer will be purchased at the same price per share even if the stockholder tendered at a lower price. If stockholders tender more than 600,000 shares at or below the purchase price per share, BHO will purchase the shares tendered at or below the determined per share purchase price by those stockholders, subject to a preference for "odd lots" tendered
Intelsat Announces Successful Receipt of Requisite Consents Relating to Certain Notes of Intelsat Jackson Holdings S.A. Intelsat S.A., a provider of satellite services, has announced that its subsidiary, Intelsat Jackson Holdings S.A. ("Intelsat Jackson"), has received the requisite consents to amend certain terms of the indenture governing its 11 ¼% Senior Notes due 2016 (the "Notes") in connection with its previously announced Tender Offer and Consent
Crowley Maritime Corporation reached a proposed settlement in the pending Franklin Balance Sheet Investment Fund v Crowley ("Franklin") litigation, a purported class action and derivative complaint filed in November 2004 against certain members of the board of directors and Crowley. The plaintiffs in that lawsuit have agreed to its dismissal if they and the other unaffiliated holders of Crowley common stock have the opportunity, through a tender offer, to sell their common stock for $2
Maritrans Inc. announced that its Board of Directors has approved the initiation of a modified "Dutch auction" tender offer by Maritrans to purchase up to 2,000,000 shares of its outstanding common stock at a price per share of not less than $11.00 per share nor in excess of $12.50 per share. The tender offer is expected to commence on Monday, December 17, 2001 and to expire, unless extended, at 5:00 P.M., New York City Time, on Friday, January 18, 2002.
GulfMark Offshore, Inc. called for redemption all of its $130,000,000 aggregate principal amount of 8.75% Senior Notes due 2008 that remain outstanding on the redemption date,August 23, 2004. The redemption price is 102.917% of the principal amount of the Notes, or $1,029.17 per $1,000 principal amount of Notes, plus interest accrued and unpaid to the redemption date. On July 2, 2004 the Company commenced a tender offer and consent
CVR Energy Inc is bound by agreements to pay Goldman Sachs Group Inc and Deutsche Bank AG more than $36 million in fees and expenses stemming from billionaire investor Carl Icahn's 2012 tender offer for the oil refiner, a New York state judge has ruled. The banks had each sued CVR in 2012, claiming CVR had hired them to provide financial advice on Icahn's ultimately successful tender offer for its stock, and agreed to the fees based on the size of the transaction.
General Dynamics extended its pending tender offer for all outstanding shares of common stock (including associated rights) of Newport News Shipbuilding Inc. to midnight, EDT, on July 6, 2001. The offer was previously scheduled to expire at midnight, EDT, on June 22, 2001. As of midnight, EDT, on June 22, 2001, approximately 20,248,926 shares (including guaranteed delivery) of Newport News had been tendered. While the number of shares tendered exceeds the
Chinese shipbuilding company Jiangsu Eastern Shipyard has been awarded a contract to build two oil tankers worth 61.49 million U.S. dollars by Indonesia's state- run oil firm Pertamina, Xinhua reported Jiangsu is expected to deliver the two tankers in July 2010. The tankers will be used to transport kerosene for a period of 25 years, he said, adding that no local shipbuilding company was capable to meet contract requirements in pre-tender offering. Source: Xinhua
Detroit Diesel Corp. has signed a definitive merger agreement with a subsidiary of DaimlerChrysler AG. The agreement calls for DaimlerChrysler, a shareholder of DDC since 1993 that currently owns 21.3 percent of the outstanding common shares of DDC, will commence a cash tender offer for the remaining 78.7 percent of DDC at a price of $23 per common share - for a total transaction value of $423 million. Penske Corp., which owns 48
Newport News Shipbuilding, (NNS) and General Dynamics (GD), have agreed to terminate their agreement and plan of merger. The companies entered into an agreement on April 24, 2001, and a tender offer by General Dynamics commenced on May 4, 2001.
Ensco plc announced today that it has commenced a cash tender offer to purchase any and all of its outstanding 3.25% Senior Notes due 2016 (CUSIP No. 29358QAB5). The tender offer is being made pursuant to an Offer to Purchase dated today and a related Letter of Transmittal and Notice of
Greece will proceed with the sale of stakes in strategic assets such as the port of Piraeus, says a report in Bloomberg. The Hellenic Republic Asset Development Fund, which sells real estate, infrastructure and other government holdings, is sending a revised tender offer to investors
American corporation XPO Logistics, led by multi-millionaire Bradley Jacobs, agreed to acquire French transport services and global logistics solutions provider Norbert Dentressangle, led by multi-millionaire Norbert Dentressangle, for US$3.53 billion including debt, according to Bloomberg.
The Danish equity fund Polaris makes a tender offer on all shares of the ferry operator Mols-Linien, which sails on routes Odden-Ebeltoft and Odden-Aarhus. Polaris offered to pay 34 Danish crowns a share, valuing the ferry operator at 482 million Danish crowns ($71.7 million)
Navios Maritime Acquisition Corporation announced that the company and Navios Acquisition Finance (U.S.) Inc., its wholly owned finance subsidiary, intend to offer through a private placement, subject to market and other conditions, approximately $600 million of first priority ship mortgage
Ocean Rig UDW Inc., a global provider of offshore deepwater drilling services, announced that it has commenced a cash tender offer for any and all of its currently outstanding 9.5% Senior Unsecured Callable Notes due 2016 on the terms and subject to the conditions set forth in the company's offer
Greece's DryShips Inc. through its majority owned subsidiary, Ocean Rig UDW Inc., informs that it intends to offer $500 million in aggregate principal amount of senior notes due 2019 in a private offering within the United States to qualified institutional buyers pursuant to Rule 144A under the
Offshore deepwater drilling services provider Ocean Rig informs that the pricing of its previously announced offering has been priced at 100% of par, with a stated interest rate of 7.250%. The Notes are being sold in a private offering within the United States to qualified institutional buyers
Navios South American Logistics Inc. announced today that it and Navios Logistics Finance (U.S.) Inc., its wholly-owned finance subsidiary, have commenced a cash tender offer for any and all of their outstanding 9 1/4% senior notes due 2019 and a consent solicitation to eliminate or modify most of
Foster Wheeler AG announced today that it has filed with the U.S. Securities and Exchange Commission (SEC) definitive proxy materials in connection with its Extraordinary General Meeting (EGM) to be held on July 10, 2014 at the Company’s offices in Baar, Switzerland
Reference is made to the open market partial tender offer for up to 650,000 shares of Aker Philadelphia Shipyard ASA announced on 7 August 2014. Pursuant to the offer, only a limited number of shares were tendered to the company
Paragon Offshore plc reported that it has acquired 52,749,014 shares of Prospector Offshore Drilling S.A., a publicly traded offshore drilling company listed on Oslo Axess. Paragon acquired the shares at a price of 14.50 Norwegian kroner (NOK) per share, or $2
Huntington Ingalls Industries, Inc. (HII) announced today that it will sell $600 million aggregate principal amount of 5% senior notes due 2021 at a price of 100% of the par value. The company said it intends to use the net proceeds from the sale of the notes to pay the consideration for the
Samsung Heavy Industries said on Wednesday it has decided to scrap a $2.5 billion stock deal to take over Samsung Engineering, potentially complicating restructuring plans by parent Samsung Group ahead of a looming succession. Shareholders doubting the synergies of the merger had asked the two
Enterprise bumps up exports through annual contracts; signs 2015 contracts with PDS, Vitol; seeks one more term buyer. U.S. exports of condensate have been given an important boost after pipeline company Enterprise Products Partners LP agreed annual contracts with at least two major trading