Brief: Taylor Maritime Investments's Unit To Buy Grindrod Shipping Holdings For About $506 Mln

Grindrod Shipping Holdings

12/10/2022 07:52

Oct 12 (Reuters) - Taylor Maritime Investments Ltd
 TMI.L :
    * TAYLOR MARITIME TAYLOR MARITIME -TMI  - CONDITIONAL CASH
OFFER
FOR GRINDROD SHIPPING
    * TAYLOR MARITIME INVESTMENTS LTD - UNIT TO ACQUIRE ALL
ISSUED
ORDINARY SHARES IN CAPITAL OF GRINDROD SHIPPING HOLDINGS LTD
    * TAYLOR MARITIME INVESTMENTS - GRINDROD SHAREHOLDERS WILL
BE
ENTITLED TO RECEIVE: OFFER PRICE OF US$21.00 IN CASH FOR EACH
OFFER SHARE
    * TAYLOR MARITIME INVESTMENTS LTD - PROPOSED DEAL FOR
AGGREGATE
TRANSACTION VALUE OF US$26.00 PER SHARE
    * TAYLOR MARITIME INVESTMENTS LTD - PROPOSED DEAL FOR
APPROXIMATELY US$506 MILLION ON A FULLY DILUTED BASIS
    * TAYLOR MARITIME INVESTMENTS LTD - TMI BELIEVES OFFER FOR
GRINDROD WILL CREATE A SIGNIFICANT PLAYER AND OWNER OF MID-SIZED
DRY-BULK SHIPS

Source text for Eikon:  ID:nRSL5625Ca 
Further company coverage:  TMI.L 
 ((Reuters.Briefs@thomsonreuters.com;))