Baltic is not receiving fair value in the combination with parent Genco Shipping & Trading, according to a statement circulated today by law firm Tripp Levy.
Terms of the merger have Baltic shareholders receiving 0.216 Genco shares for each Baltic unit, which values Baltic at $1.69 per share, according to the law firm. Genco would control 84.5% of the merged company and Baltic 15.5%.
Tripp
