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Star shines on merger
Star Bulk shares ran hot this morning as investors reacted positively to a merger with Oceanbulk which will see Oaktree Capital become the largest shareholder in the company.
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Found an interesting story?
Star shines on merger
Star Bulk shares ran hot this morning as investors reacted positively to a merger with Oceanbulk which will see Oaktree Capital become the largest shareholder in the company.
Star shares hit a high of $13.41 each shortly after the announcement hit the tape and were still trading strongly at $12.505 each at the time of writing.
The merger of Star Bulk, the existing public dry cargo company controlled by Petros Pappas, and Oceanbulk, which was his private equity venture with Oaktree, has created what Star claims is the largest bulker vehicle in the US capital markets with 69 vessels.
“I think this is very good news for Star Bulk, though
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