International Seaways To Acquire Bruton In About $370M Deal, Buying 50.5% Directly, Adding 4 VLCCs; To Issue About 3.12M INSW Shares
Seaways has entered into exchange agreements with Bruton shareholders holding approximately 50.5% of Bruton’s outstanding common shares, to immediately acquire those shares in exchange for 0.0519 INSW shares for each
International Seaways is buying a big piece of another shipping company called Bruton. When a company buys another company, it often means it thinks this will help it grow or make more money.
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Source: Benzinga · Read the original report at the publisher. Headline and figures shown for context; data may be delayed.
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