Shipping M&A » By The Online Investor Staff, updated Wed., Jan. 20, 12:56 AM
Recent mergers and acquisitions in the Shipping M&A category.
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Slide #12. International Shipholding Corporation — United Ocean Services
Acquirer:
International Shipholding Corporation (ISH)
Acquiree:
United Ocean Services
Details:
International Shipholding Corporation announced that it has entered into a definitive agreement to acquire a 100% ownership interest in U.S. United Ocean Services, LLC, a wholly-owned subsidiary of United Maritime Group, LLC, for a total purchase price of approximately $111 million cash, subject to customary closing adjustments.
International Shipholding is a holding company. Co. operates a fleet of U.S. and International Flag vessels that provide international and domestic maritime transportation services to commercial and governmental customers. Co. has operations in markets including international service between U.S. Gulf Coast, U.S. East Coast, and U.S. West Coast ports and ports in Mexico, the Middle East and the Far East, and domestic transportation services along the U.S. Gulf Coast and East Coast. Co. has six operating segments: Jones Act; Pure Car Truck Carriers; Dry Bulk Carriers; Rail-Ferry; Specialty Contracts; and Other. As of Dec 31 2014, Co. owned or operated a total of 54 ocean-going vessels.
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Avg. Broker Rec.
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Strong Buy (4.00 out of 4) 43rd percentile
(ranked lower than approx. 57% of all stocks covered)
Based on Zacks ABR data; powered by Xignite |
