Sphinx Investment Corp. Extends Tender Offer for Performance Shipping Inc

SAS Shipping Agencies Services Sàrl Launches Tender Offer for Clasquin

November 5, 2024

Transportation

SAS Shipping Agencies Services Sàrl (“SAS”) initiated a tender offer for the shares of Clasquin at €142.03 per share, with an offer duration of 25 trading days. The filing and offer document have been cleared by the French regulator (AMF), and SAS indicates it may pursue a squeeze-out if enough shares are tendered.

Pangaea Logistics Solutions Completes Fleet Combination with Strategic Shipping Inc.

December 30, 2024

Transportation

Pangaea Logistics Solutions Ltd. completed a combination transaction with Strategic Shipping Inc., issuing 18,059,342 shares (approximately 27.6% of outstanding stock) to SSI in exchange for fifteen handy-size dry bulk vessels. The vessels were valued at approximately $271 million at closing (inclusive of $100 million of vessel financing assumed), and the deal closed following shareholder approval on December 30, 2024.

SAS Shipping Agencies Services Acquires 42.06% of Clasquin, Launches Tender Offer for Remaining Shares

October 9, 2024

Transportation

MSC Mediterranean Shipping Company SA subsidiary SAS Shipping Agencies Services Sàrl has completed the acquisition of 42.06% of Clasquin SA shares from Yves Revol and OLYMP at EUR 142.03 per share, subject to regulatory clearances. SAS plans to file a tender offer with France’s AMF for the remaining Clasquin shares and intends to pursue a squeeze-out if conditions are met.

Saltchuk Resources Acquires Overseas Shipholding Group (OSG)

May 20, 2024

Transportation

Saltchuk Resources, a privately owned family of freight transportation and marine service companies, has entered into a definitive agreement to acquire Overseas Shipholding Group, Inc. (OSG) in a transaction valuing OSG at an aggregate equity value of approximately $653 million and a total transaction value of $950 million. Saltchuk will commence a tender offer to purchase all outstanding shares it does not already own for $8.50 per share, after which any remaining shares will be acquired in a second-step merger.

Freightos Acquires Shipsta

August 19, 2024

Logistics & Distribution

Freightos, the public global digital freight booking platform, has acquired Luxembourg-headquartered Shipsta to add multimodal tender and contract procurement capabilities to its spot pricing, quoting, and booking offering. The deal is being financed with cash (~€4.5m) and equity (approx. 640,000 Freightos shares) and is intended to expand Freightos' product capabilities, accelerate revenue growth, and increase total addressable market.

Mason Capital Acquires Forward Pharma A/S via Tender Offer

August 8, 2024

Pharmaceuticals

Mason Capital Management LLC announced the expiration and settlement of its tender offer for Forward Pharma A/S, purchasing 1,344 ADSs at $437.00 per ADS (or 0.76 DKK per ordinary share). The accepted ADSs were settled on August 1, 2024, following the July 31, 2024 expiration of the offer.