Genco Shipping & Trading (GSKNF) Enters Agreement to Acquire Baltic Trading (BALT)
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Genco Shipping & Trading To Acquire Baltic Trading
April 8, 2015 9:00 AM EDTNEW YORK, April 8, 2015 /PRNewswire/ -- Genco Shipping & Trading Limited ("Genco") (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... More
