Dry bulk shippers buoyed by DryShips' merger deal

Navios Maritime Partners

19/08/2019 16:53

(Updates)
    ** Shares of dry bulk shipping company DryShips Inc  DRYS.O 
up ~35% at $5.18 after co enters merger deal with SPII Holdings
    ** The deal lifts peers Globus Maritime Ltd  GLBS.O , Navios
Maritime Holdings  NM.N  by ~14% 
    ** DRYS shareholders to get $5.25/shr in cash
    ** The $5.25/shr price represents a premium of about 66% to
company's $3.16 closing stock price on June 12, the last trading
day before SPII's initial offer to acquire all shares of DRYS
 urn:newsml:reuters.com:*:nGNX8nN7gR
    ** Deal expected to close in Q4 2019
    ** Genco Shipping & Trading  GNK.N , Seanergy Maritime
 SHIP.O , Scorpio Bulkers  SR41.F , Safe Bulkers  SB.F  and
Golden Ocean Group Ltd  GOGL.O  up between 1.2% and 5.1%
    ** DRYS among top percentage gainers across U.S. exchanges;
set for its best day in over 2 years
    ** Up to Friday's close, stock has fallen 32.2% YTD vs 2.9%
increase in NASDAQ Transport index  .IXTR 

 (Reporting by Arunima Kumar and C Nivedita in Bengaluru)
 ((RM: arunima.kumar.thomsonreuters.com@reuters.net))