The bulker operator’s New York-listed stock neared a 52-week low of $1.76 in the hours that followed the release, which suggests the revelation received a lukewarm reception.
“Both stocks were down on the news, on a day when most peers are up, so investors do not like something about the transaction,” said Jonathan Chappell, an equity analyst at Evercore Partners.
In a client alert the forecaster argued that investors may have been put off by the appearance that Scorpio Tankers was forced to ride to the rescue of Scorpio Bulkers.
Chappell
