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.