Greek cargo shipper DryShips shares buoyed by acquisition offer

The potential buyer, SPII Holdings, is also run by the shipper’s CEO George Economou

Shipping boat
DryShips owns a fleet of 32 vessels that it operates around the world

DryShips Inc (NASDAQ:DRYS) shares are sailing higher after the shipping company announced it had received an acquisition offer from SPII Holdings.

The potential buyer is also controlled by the Athens-based shipper’s CEO, George Economou. The move, if completed, would fold in DryShips as a subsidiary of SPII.

Investors are confident in the arrangement, sending the share price 24% higher to $3.92 Thursday morning.

READ: Greek cargo shipper DryShips reports 1Q net income of $1.5 million; stock jumps

The company’s board has formed a special committee of disinterested directors to evaluate the offer.

DryShips owns a fleet of 32 vessels that it operates around the world, including dry bulk shipping vessels, tankers and offshore support vessels.

Contact Andrew Kessel at [email protected]

Follow him on Twitter @andrew_kessel

Quick facts: DryShips

Price: - -

Market: NASDAQ
Market Cap: -

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...



Full interview: Imagination Park going 12 rounds with Legendary cut man...

Imagination Park Technologies (CSE:IP-OTC: IPNFF) CEO and President Alen Paul Silverrstieen and legendary boxing cut Jacob "Stitch" Duran joined Steve Darling from Proactive in Vancouver to discuss Imagination Park sponsoring Stitch as he works in the corner for Tyson Fury when he faces off...

2 hours, 30 minutes ago

2 min read