Teekay and Torm Complete Tender Offer for Shares of OMI

Wednesday, June 06, 2007
Teekay Corporation and A/S Dampskibsselskabet TORM announced the completion of the tender offer by their jointly owned subsidiary, Omaha, Inc., for the outstanding shares of common stock of OMI Corporation (OMI) at $29.25 net per share in cash. The depositary for the offer has advised Teekay and TORM, that, as of the expiration of the subsequent offering period, approximately 3,248,506 additional shares of OMI common stock, representing approximately 5.45% of the outstanding shares, were validly tendered during the subsequent offering period. All validly tendered shares have been accepted for payment in accordance with the terms of the tender offer. Following the purchase of the shares of common stock tendered during the subsequent offering period, the Purchaser beneficially owns a total of approximately 53,207,143 shares (excluding shares that had previously been tendered pursuant to guaranteed delivery procedures and that were not actually delivered), representing approximately 89.32% of the outstanding shares.
Maritime Reporter September 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds


Steel Cut on UK Navy’s Newest Warship

Construction has begun on a new warship for the U.K. Royal Navy as the Minister of State for Defense Procurement, Philip Dunne MP cut the first steel in Glasgow today.

U.S. Will Dispatch Warships to South China Sea

The United States is expected to sail warships close to China's artificial islands in the South China Sea within the next two weeks to signal it does not recognize

China to Build Submarines in Pakistan

China will build in Karachi four of eight submarines that it is selling to Pakistan, Minister for Defence Production Rana Tanveer Hussain said, reports Dawn. The


Box Shipping Eyes More Overcapacity, Financial Pain

Slowing global trade and a bloated orderbook of large vessel capacity mean that container shipping is set for another three years of overcapacity and financial pain,

Saudi Shipping Firm Bahri Posts Big Jump in Q3 Profit

National Shipping Company of Saudi Arabia (Bahri), the exclusive oil-shipper for Saudi Aramco, reported a significant hike in third-quarter net profit on Thursday.

Former Shipping Execs Indicted on Price-fixing

Three former executives of ocean freight shipping firms have been indicted for participating in a long-running price-fixing conspiracy, the U.S. Justice Department announced.

Maritime Careers / Shipboard Positions Navigation Offshore Oil Pipelines Pod Propulsion Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.2151 sec (5 req/sec)