The Taiwanese shipowner described the deal as “fatally flawed” in a letter released by law firm Smyser Kaplan & Veselka on his behalf.
Su’s holding company F5 Capital has at least 413,599 Star Bulk shares, a stake worth around $4.9m at Star’s current share price of $11.87 each.
In a seven page letter Su contends that the transaction was not “negotiated or controlled by a truly disinterested special committee”.
He
