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 July 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Navy

General Dynamics Delivers North Dakota (SSN-784) to U.S. Navy

General Dynamics Electric Boat yestereday delivered the nuclear-powered attack submarine North Dakota (SSN-784) on time and more than $30 million below target cost.

East and South China Sea Disputes Need Creative Diplomacy

China and the United States appear headed for a damaging confrontation over the extent of China's territorial claims in the South and East China Seas. Now that

Darwin, Australia Scene of KAKADU Exercise Planning

Over 1,200 military personnel from the Asia Pacific and Indian Ocean regions have completed collaborative, tactical warfare planning during the first week of the

Finance

Brazil Presidential Candidate Silva Moots Price on Carbon

Brazilian presidential candidate Marina Silva plans to put a price on greenhouse gas emissions and implement a national carbon market if elected, according to policy proposals released on Friday.

SBM Offshore Completes Real Estate Divestment

SBM Offshore is pleased to announce that is has completed the sale and lease back of its Monaco real estate portfolio.  The last of the three buildings was sold

Athabasca Completes Dover Stake Sale to PetroChina

Canada's Athabasca Oil Corp said it had closed the sale of its 40 percent interest in the Dover oil sands project to a unit of PertroChina Co Ltd for $1.18 billion.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Naval Architecture Pipelines Pod Propulsion Port Authority Ship Electronics Ship Repair Ship Simulators Sonar
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1123 sec (9 req/sec)