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OSG - Overseas Shipholding Group: $3/Share Offer On The Table; Deal Seems Likely
Overseas Shipholding Group Inc. Class A
Overseas Shipholding Group is currently entertaining a non-binding proposal to be taken private by Saltchuk Holdings, Inc. for $3.00 per share in cash.
Likelihood of a deal is quite high, considering the attractiveness of Saltchuk's initial offer.
Saltchuk is OSG's second largest shareholder and indicated it is prepared to deal in effort to reach an agreement.
A deal could materialize at a higher price per share, making this an attractive event-driven investment opportunity.