Star Bulk & Eagle Bulk Complete Merger

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Star Bulk Carriers Corp., a global shipping company focusing on the transportation of dry bulk cargoes has completed its merger with Eagle Bulk Shipping Inc., reads an official release.

Under the terms of the merger agreement, each Eagle shareholder received 2.6211 shares of Star Bulk common stock for each share of Eagle common stock owned. Eagle common stock has ceased trading and will no longer be listed on the New York Stock Exchange.

Petros Pappas, Chief Executive Officer of Star Bulk, said, “This is an exciting day for Star Bulk as we bring together our companies and create a global leader in dry bulk shipping. We are moving forward with greater scale, a stronger financial profile and unique technical and commercial capabilities to grow our business, better serve our customers and deliver sustainable value for our shareholders.”

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Source: Starbulk