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Forum - Oceanfreight - OCNF   

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From: TheNextGoogle (Rep: 531)Date: 09/26/2013 12:31
Forum: Oceanfreight - Msg #1199Thread #673576707 (Rec: 0)
FWIW - OceanFreight (NASDAQ: OCNF) - Got bought by DRYS - "UPDATE: DryShips and OceanFreight Announce That DryShips Acquires Majority of OceanFreight Shares

DryShips (NASDAQ: DRYS) and OceanFreight (NASDAQ: OCNF) announced today that DryShips has acquired 3,000,856 shares of OceanFreight. The shares were acquired from entities controlled by Mr. Anthony Kandylidis, the CEO of OceanFreight, under a purchase agreement entered into on July 26, 2011. These shares represent a majority of the outstanding shares of OceanFreight. The consideration paid by DryShips for each OceanFreight share consisted of $11.25 in cash and 0.52326 shares of common stock of Ocean Rig UDW Inc, par value of $0.01 per share, with cash paid in lieu of fractional shares. The total consideration paid for those shares was $33,759,671.08 in cash and 1,570,226 shares of Ocean Rig common stock.

The Ocean Rig shares so transferred were outstanding shares held by DryShips. As a result of this transaction, DryShips' percentage ownership of Ocean Rig was reduced from approximately 78% to approximately 77 %.

http://www.wikinvest.com/wikinvest/api.php?action=viewNews&aid=2933550&page=Stock%3AOceanFreight_%28OCNF%29&format=html&comments=0

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Had some excellent posts by other memebers a while ago -
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