Saltchuk Resources Acquires Overseas Shipholding Group (OSG)
May 20, 2024
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.
- Buyers
- Saltchuk Resources, Inc.
- Targets
- Overseas Shipholding Group, Inc. (OSG)
- Sellers
- OSG's public shareholders (shareholders not affiliated with Saltchuk)
- Industry
- Transportation
- Location
- Florida, United States
- Transaction Type
- Buyout
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