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DRYS - DryShips - Approval Of Going-Private Proposal A Mere Formality
DryShips Inc.
Note:
I have previously covered DryShips (NASDAQ:DRYS), so investors should view this as an update to myearlier articleson the company.
In mid-June, I discussed George Economou's offer to purchase the remaining 16.6% of the company not already owned by him for $4 in cash per share.
In the article, I outlined my expectations for Economou to potentially increase his bid to the $4.50-5.00 range and the company's special committee of independent directors to approve the revised offer.
At that time, the Baltic Dry Index was trading slightly below 1,100 points but