NMM - Navios Maritime Partners and Navios Maritime Containers lock merger deal; shares +7% PM

Navios Maritime Partners (NMM) has signed a definitive merger agreement with Navios Maritime Containers (NMCI) in an all-stock deal proposed in November.The companies have agreed upon the exchange ratio of 0.39 Navios Partners' unit for every 1 unit of Navios Containers, which implies a consideration value of $4.37/unit of Navios Containers, reflecting a premium of 102.2% to NMCI's closing price on Nov. 13, 2020.Company statement "the transaction is expected to build scale through a larger, diversified asset base capable of generating increased earnings capacity and increase collateral value to assist in refinancing debt maturities."The transaction is expected to close in H1 2021, subject to Navios Containers unitholders' approval.NMM stock up 7.05% premarket; NMCI up 7.80%. See stocks' performance in the last 5 years, as given below:Now Read: The ETFs with the greatest momentum going into 2021

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Navios Maritime Partners and Navios Maritime Containers lock merger deal; shares +7% PM