So now what? There is a moment of calm in the tempest between Connecticut’s Eagle Bulk Shipping and its new 16.7% shareholder, fellow shipowner Danaos Corp of Greece, but where do the two New York-listed companies go from here?
Equity analyst Poe Fratt of Alliance Global Partners has been closely following both Danaos’ $75m investment and two key decisions by Eagle Bulk: its buyout of the 28% stake held by Oaktree Capital Management, and introduction of a “poison pill” that blocks Danaos from further stake-building.
