General Maritime, Arlington Get OK to Merge

Thursday, August 28, 2008
General Maritime and Arlington Tankers have received approval from U.S. antitrust officials to merge, reports said.. The two companies had said on Aug 6 that they had agreed to merge in a stock-for-stock combination that would form an oil tanker company with an enterprise value of $2b. The FTC announced the approval in a listing that it puts out several times a week. Under the terms of the deal, General Maritime shareholders will receive 1.34 shares of the combined company for each share held while shareholders of Arlington Tankers will receive one share of the combined company for each share owned, the companies said in early August. Source: Reuters
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