That was the analysis from financial sources this week after Star shares soared from $12.07 at the time of the transaction to nearly $13.84 on strong investor support for the merger, which creates the largest US-listed bulker company by deadweight tonnage.
While Star probably was trading slightly below NAV at the $12.07 level -- depending on who is doing the analysis -- the appreciation in share price since counts as a nice sweetener for Oaktree and Pappas, one banker said this week.
"At
