Mark Tabbutt

Saltchuk strengthens commitment to Puerto Rico

The Saltchuk Group is partnering with the University of Puerto Rico at Mayagüez (UPRM) and the Polytechnic University of Puerto Rico (PUPR) to establish two programs focused on transportation and logistics. These initiatives seek to develop skilled professionals, enhance industry research, and support long-term economic and social progress on the island.

Saltchuk says that its investment in these programs reinforces its long-standing dedication to Puerto Rico, where its companies – including TOTE...

https://www.marinelog.com/news/saltchuk-strengthens-commitment-to-puerto-rico/

Saltchuk Resources completes OSG acquisition

Saltchuk Resources Inc. reports that it has successfully completed its previously announced tender offer to acquire all of the outstanding shares of common stock of Overseas Shipholding Group Inc. (NYSE: OSG) not already owned by Saltchuk for a purchase price of $8.50 per share in cash, an enterprise value of approximately $950 million. The transaction closed this morning, and OSG is now a wholly owned subsidiary of Saltchuk.

OSG set to be acquired by Saltchuk

“With OSG, Saltchuk now numbers...

https://www.marinelog.com/news/saltchuk-resources-completes-osg-acquisition/

OSG set to be acquired by Saltchuk

Shares in NYSE-listed U.S.-flag tanker and ATB operator Overseas Shipholding Group Inc. (OSG) were trading up this morning on news that it has entered into a definitive merger agreement that will see it acquired by Saltchuk Resources Inc. Saltchuk first made an offer for OSG in 2021, then made a new offer in January of this year.

Under the terms of the merger agreement, family-owned Saltchuk will commence a tender offer to acquire all outstanding shares of OSG it does not already own for $8.50...

https://www.marinelog.com/legal/shipping/osg-set-to-be-acquired-by-saltchuk/

Saltchuk makes a new offer for OSG

Privately held, Seattle-headquartered Saltchuk Resources Inc. has made a new offer to acquire NYSE-listed tanker and ATB operator Overseas Shipholding Group Inc. (OSG). Saltchuk, which is OSG’s largest shareholder, made an earlier offer to acquire the rest of OSG in June 2021 but suspended those discussions that September, citing pandemic-related market uncertainties.

Today, OSG confirmed that its board of directors had received an unsolicited non-binding indication of interest from Saltchuk for...

https://www.marinelog.com/legal/shipping/saltchuk-makes-a-new-offer-for-osg/