DRYS - DRYS Stock Jumps 32%: SPII Holdings Acquiring DryShips

DryShips, Inc. (NASDAQ:DRYS) is making headlines this morning. Why? Because DRYS stock is up nearly 40% after the Athens, Greece-based company said it’ll be acquired by SPII Holdings.

Here’s what we know.

On Monday, August 19, DryShips, a cargo ship operator, announced a buyout deal, sending the stock deep into the green zone. According to the company, SPII Holdings, a company overseen by DryShips CEO George Economou, will purchase the shares it does not already own, with the value set at $5.25 a share in cash. On ...