Navios Maritime Holdings soars on N Logistics' buyout offer

Navios Maritime Holdings

23/10/2023 15:26

** Shares of shipping firm Navios Maritime Holdings  NM.N 
soar 16.7% to $2.2 after N Logistics Holdings agrees to buyout
company in an all-cash deal
    ** Stock hits highest level in over seven months 
    ** All of co's outstanding shares, not already owned by N
Logistical Holdings to be acquired for $2.28/shr 
    ** Price represents a premium of 20.6% to share's last close
of $1.89
    ** CEO Angeliki Frangou of N Logistics Holdings, held 16.23%
of co's shares, per a filing on Sept. 13; Frangou is No.1
stakeholder in the company - LSEG data
    ** Stock up ~26% YTD 

 (Reporting by Purvi Agarwal in Bengaluru)
 ((Purvi.Agarwal@thomsonreuters.com))