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 Tenders of shares must be made prior to the expiration of the tender offer and may be withdrawn at any time prior to that time.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within the range that will enable it to buy 600,000 shares, or such lesser number of shares that are tendered and not withdrawn.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.
Transocean Ltd. announced that its wholly-owned subsidiary Transocean Inc., has priced its previously-announced offering of senior unsecured notes. Transocean will issue $1.25 billion in aggregate principal amount of senior unsecured notes due 2023 pursuant to Rule 144A/Regulation S
SCF Group completed a series of financing transactions in the total amount of USD 1.26 billion. The deals include USD 750 million of unsecured public debt and USD 512 million of bank loans raised for purposes of funding the fleet renewal and expansion programme and for the refinancing of maturing
Cox Powertrain will preview its professional outboard motor, the CXO300, at the Workboat Show in New Orleans later this year. Britain's Cox brought together engineers from Formula 1 racing and automotive engine design to develop this new concept diesel engine
Hunter Maritime Acquisition Corp. said it has entered into definitive agreements pursuant to which it has agreed to purchase, for an aggregate purchase price of $139.4 million in cash, five identified Capesize dry bulk carriers in an en-bloc transaction from five Cyprus-based companies affiliated
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
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)
Oil major Shell and trading house Gunvor will supply Pakistan with 120 liquefied natural gas (LNG) cargoes between 2016 and 2020 after both companies submitted the lowest offers in two highly sought after tenders, trade sources said. Pakistan State Oil company on Nov
Total and Saft announced today that, following the signature of an agreement between the companies, Total filed a friendly tender offer on all of the issued and outstanding shares in the capital of Saft with the French Financial Markets Authority (Autorité des
DP World could buy back around half of its $1.5 billion sukuk offering which is due to mature in 2017 as the global ports operator seeks to reduce the cost of its debt, it said in a statement on Monday. Holders of the Islamic bond have until 1600 London time on May 23 to decide whether to
Dubai-based ports operator DP World launched a seven-year $1.2 billion sukuk issue on Tuesday, a document from lead managers showed. The issue, structured to be compliant with rules allowing investors in the United States to participate, will price at 237