DryShips Shareholder SPII Holdings Offers $4 Per Share for Merger

A DryShips Inc. DRYS 13D filing shows CEO George Economou has a 83.35% stake and that SPII Holdings Inc. has delivered a non-binding letter to the company’s board with $4 per share cash conversion offer.

SPII expects that the issuer will appoint a special committee of independent directors to consider its proposal and make a recommendation to the board of directors.

Previously, Heidmar Holdings LLC from SPII Holdings Inc., was an entity affiliated with Economo.

DryShips shares traded up 0.3% at $3.17 in Thursday's pre-market session.

Posted In: George EconomouM&ANews