Eagle Bulk Shipping Inc. (EGLE) announced last Friday that its shareholders have given their approval for the merger agreement among Star Bulk Carriers Corp. and Star Infinity Corp. The announcement was made during a special shareholders' meeting held earlier that day.
The merger is poised to establish a publicly listed dry bulk shipping company, boasting a combined fleet of 169 owned vessels once fully delivered.
The merger is expected to be completed around April 9, 2024. Under the terms of the merger agreement, each outstanding share of Common Stock will be swapped for 2.6211 shares of Star Bulk's common stock, which has a par value of $0.01 per share. Provisions have also been made for any cash to be exchanged for fractional shares.
