Saltchuk Resources is backing off its pursuit of Overseas Shipholding Group (OSG).
In regulatory filings made on Tuesday night, the Seattle-based investor said it told the Jones Act tanker player that it was suspending discussions on a take-private offer valuing the company at approximately $261m.
"Saltchuk Holdings has notified [OSG] that, in light of continued uncertainty with respect to the pace and trajectory of the global pandemic recovery and its effects...
