The $2.2bn all-stock merger between International Seaways and Diamond S Shipping is set to close on Friday after shareholders of International Seaways approved a procedural issue allowing it to move forward on Tuesday.
The deal, in which New York-based International Seaways will acquire the Connecticut owner and become the surviving management, will create a company with an enterprise value near $2bn, more than 100 tankers and expected annual revenues of over $1bn.
