Navios Maritime Holdings rises on buyout offer

Navios Maritime Holdings

13/09/2023 15:05

** Shares of shipping firm Navios Maritime Holdings  NM.N 
up 12.5% at $1.80 in early trade 
    ** Co says it has received an unsolicited non-binding
proposal from N Shipmanagement Acquisition to acquire all of the
outstanding shares not already beneficially owned by NSC and its
affiliates for $1.84 in cash/shr 
    ** NM says there can be no assurances whether any deal would
materialize  
    ** The offer implies a value of $42 mln for the entire
company according to Reuters calculations 
    ** Including the session's gains, stock is up ~29% YTD 

 (Reporting by Sourasis Bose in Bengaluru)
 ((Sourasis.bose@thomsonreuters.com))