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DryShips confirms receipt of acquisition proposal

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Dry Bulk,

DryShips Inc., a diversified owner and operator of ocean-going cargo vessels, announced on 13 June that it has received a non-binding offer letter from SPII Holdings Inc., (SPII Holdings), a company controlled by DryShips’ Chairman and Chief Executive Officer George Economou.

The non-binding offer letter proposes a transaction pursuant to which the company would be merged into a subsidiary of SPII Holdings.

The board of directors of the company has formed a special committee consisting solely of disinterested directors to consider the proposal.

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