• DATVF.ATLPHL
    1.751
    -0.063
    -3.5%
  • DATVF.CHIATL
    2.041
    0.007
    0.3%
  • DATVF.DALLAX
    0.928
    0.007
    0.8%
  • DATVF.LAXDAL
    1.459
    -0.043
    -2.9%
  • DATVF.SEALAX
    0.984
    0.022
    2.3%
  • DATVF.PHLCHI
    1.110
    0.019
    1.7%
  • DATVF.LAXSEA
    2.155
    0.009
    0.4%
  • DATVF.VEU
    1.634
    -0.013
    -0.8%
  • DATVF.VNU
    1.466
    -0.005
    -0.3%
  • DATVF.VSU
    1.194
    -0.017
    -1.4%
  • DATVF.VWU
    1.569
    0.015
    1%
  • ITVI.USA
    9,394.010
    -295.340
    -3%
  • OTRI.USA
    7.540
    -0.110
    -1.4%
  • OTVI.USA
    9,375.560
    -302.450
    -3.1%
  • TLT.USA
    2.730
    0.000
    0%
  • WAIT.USA
    156.000
    -2.000
    -1.3%
  • DATVF.ATLPHL
    1.751
    -0.063
    -3.5%
  • DATVF.CHIATL
    2.041
    0.007
    0.3%
  • DATVF.DALLAX
    0.928
    0.007
    0.8%
  • DATVF.LAXDAL
    1.459
    -0.043
    -2.9%
  • DATVF.SEALAX
    0.984
    0.022
    2.3%
  • DATVF.PHLCHI
    1.110
    0.019
    1.7%
  • DATVF.LAXSEA
    2.155
    0.009
    0.4%
  • DATVF.VEU
    1.634
    -0.013
    -0.8%
  • DATVF.VNU
    1.466
    -0.005
    -0.3%
  • DATVF.VSU
    1.194
    -0.017
    -1.4%
  • DATVF.VWU
    1.569
    0.015
    1%
  • ITVI.USA
    9,394.010
    -295.340
    -3%
  • OTRI.USA
    7.540
    -0.110
    -1.4%
  • OTVI.USA
    9,375.560
    -302.450
    -3.1%
  • TLT.USA
    2.730
    0.000
    0%
  • WAIT.USA
    156.000
    -2.000
    -1.3%
American Shipper

Stelmar rejects OMI’s takeover bid

Stelmar rejects OMI’s takeover bid

   Stock market-listed Stelmar Shipping Ltd. Monday rejected a $630-million unsolicited takeover bid made by fellow tanker shipping group OMI Corp.

   Stelmar, headquartered in Athens, Greece, said its board of directors has unanimously determined that OMI’s proposal for a possible business combination is not in the best interests of all Stelmar shareholders, and the board decided not to enter into discussions with OMI regarding its proposal.

   Stamford, Conn.-based OMI replied that it was “extremely disappointed” by Stelmar’s rejection without first discussing it. OMI said that it would evaluate its options.

   The takeover was backed by Haji-Ioannou and his family, who together control 37 percent of Stelmar’s shares.

   The takeover rejection sent Stelmar’s stock down 2.5 percent on Monday to close at $31.28 a share on the New York stock exchange. OMI’s stock increased 4.4 percent, to $11.69.

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