Overseas Shipholding gains on buyout offer from Saltchuk Resources

Octave Specialty

29/01/2024 14:04

** Shares of oil tanker operator Overseas Shipholding Group
 OSG.N  up 5.1% at $6.20 premarket 
    ** Says co has received an unsolicited non-binding
indication of interest from Saltchuk Resources for the
acquisition of all of co's outstanding shares for $6.25 per
share in cash 
    ** Offer implies a 5.93% upside to stock's last close as per
Reuters' calculations 
    ** OSG says it will be considering and evaluating the
proposal 
    ** Co has about 72.37 mln shares outstanding as per LSEG
data 
    ** Stock was up 82.35% in 2023 

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