Overseas Shipholding Group surges on Saltchuk deal

Octave Specialty

02/07/2021 13:42

** Shares of holding co Overseas Shipholding Group Inc
 OSG.N  jumps 34.2% at $2.82 in premarket trading
    ** Saltchuk Holdings Inc proposes to acquire all of
outstanding shares of OSG, not already owned, for $3 per share
in cash  urn:newsml:reuters.com:*:nFWN2OD14R
    ** Saltchuk Holdings, which is the largest shareholder of
OSG, owns 17.5% of the co, according to Refinitiv data
    ** Saltchuk says, it submitted a preliminary non-binding
proposal to OSG's board on June 30
    ** As of last close, OSG had fallen ~2% so far this year

    

    
    

 (Reporting by Tiyashi Datta in Bengaluru)
 ((tiyashi.datta@thomsonreuters.com))