Genco Shipping & Trading To Acquire Baltic Trading
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Genco Shipping & Trading (GSKNF) Enters Agreement to Acquire Baltic Trading (BALT)
April 8, 2015 9:06 AM EDTGenco Shipping & Trading (OTCBB: GSKNF) and its subsidiary Baltic Trading Limited (NYSE: BALT) ("Baltic Trading") today announced that they have entered into a definitive merger agreement under which Genco will acquire Baltic Trading in a stock-for-stock transaction. Under the terms of the agreement, Baltic Trading will become an indirect wholly-owned subsidiary of Genco, and Baltic Trading shareholders will receive 0.216 shares of Genco common stock for each share of Baltic Trading common stock they own at closing, with fractional shares to be settled in cash. Upon consummation of the transaction,... More
