Overseas Shipholding Group’s takeover offer for Stelmar Shipping has been overwhelmingly approved by shareholders.
At a brief meeting in New York today, it was confirmed nearly 75% of Stelmar shareholders had cast their votes in favour of OSG’s $48 per share bid for the company, clearly carrying the offer.
In an interview with TradeWinds after the deal, OSG chief executive Morten Arntzen declared himself “delighted” by the outcome and said of the meeting: “There were no surprises, this is as we expected it.”
