DryShips to Merge with SPII Holdings

DryShips to Merge with SPII Holdings

  

Fried Frank acted as counsel to the Special Committee of DryShips in the company's merger agreement with SPII Holdings Inc.,  a company controlled by its Chairman and Chief Executive Officer George Economou, under which SPII will acquire the outstanding shares of the company that it does not already own for US$5.25 per share in cash, without interest. The merger, subject to approval by the company's stockholders, as well as other customary closing conditions, and not subject to a financing condition, is expected to close in the fourth quarter of 2019.

The Fried Frank team was led by corporate partners Mark H. Lucas and Philip Richter and included litigation partner Michael C. Keats and corporate associates Chris S. Celentano, Mehar Najeeb, and Roy Tannenbaum.

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