DryShips shares have skyrocketed in early-morning trading today after chief executive George Economou made an offer to buy the New York-listed diversified owner.
Economou is offering to acquire DryShips through private interest SPII Holdings in a $4 per share conversion offer, according to an SEC filing.
"We believe that private ownership is in the best interests of the company, as it would result with the flexibility to focus on a long-term perspective without being constrained by the public company emphasis on achieving short term results," the subsidiary said in the filing.
