Pangaea Logistics Solutions Ltd. (Nasdaq: PANL), a global provider of comprehensive maritime logistics solutions, completed the combination of its fleet of dry bulk vessels with the 15-vessel fleet of Strategic Shipping Inc. (“SSI”) managed by its affiliate M.T. Maritime Management. Consideration for the SSI vessels, valued at $271 million, was in the form of Pangaea common stock representing 27.6% of Pangaea’s outstanding shares.
M&A – Pangaea Logistics Solutions and Strategic Shipping Inc. Merge Their Dry Bulk Fleets
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