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Article: PACIFIC BASIN BULK SHIPPING LIMITED TO BE ACQUIRED BY KONSORTIUM PERKAPALAN BERHAD FOR $16.22 PER SHARE

Article from:
PR Newswire
Article date:
July 1, 1996
Copyright

KUALA LUMPUR, Malaysia, July 1 /PRNewswire/ -- Mr. Mirzan Mahathir, Group Executive Chairman of Konsortium Perkapalan Berhad, and Mr. Christopher Buttery, Chairman of the Board and Chief Executive Officer of Pacific Basin Shipping Limited (Nasdaq: PBBSF), jointly announced today that they have signed a definitive agreement providing for the acquisition of Pacific Basin in a merger in which all Pacific Basin shareholders will receive US$16.22 per share in cash. Holders of warrants will receive US$0.97 for each warrant following the consummation of the merger. The management of Pacific Basin will remain in their current positions.

The merger is subject to the ... 







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