OMI takeover moves forward
The takeover and planned breakup of Stamford, Conn.-based tanker owner OMI Corp. took another step forward Thursday with Teekay Corp. and Torm Lines announcing that the tender offer by their jointly held subsidiary, Omaha Inc., has successfully acquired 83.5 percent of OMI stock.
Omaha's tender offer remains open through June 5. Omaha intends to eventually acquire all remaining outstanding shares of OMI pursuant to a merger of OMI into Omaha, with Omaha being the surviving corporation.
Teekay and Torm have said they will then divvy up the OMI fleet, with Teekay acquiring OMI's 13 Suezmax tankers and eight product tankers, and TORM acquiring the remaining 26 product tankers.
OMI takeover moves forward
