Topic
shareholder vote
Business Vantage Drilling Merger with Eldorado Clears Shareholder Vote, Transaction Valued at $257.6M
Shareholders of offshore drilling contractor Vantage Drilling approved the proposed merger with Neil Hall-led Eldorado Drilling during a special general meeting. Under the terms, Vantage will become a wholly owned subsidiary of Eldorado, with Vantage shareholders receiving $19 per share in cash, representing an equity value of approximately $257.6 million. The transaction is funded by $125 million in equity commitments from Eldorado's principal shareholder. Completion remains subject to certain conditions.
Logistics Diana Shipping Scales Back Genco Campaign Ahead of Crunch Shareholder Vote
Diana Shipping has withdrawn four of its six director nominees for Genco Shipping & Trading's board election, leaving only Jens Ismar and Paul Cornell. The move comes after all three major proxy advisory firms recommended shareholders support Genco's slate. The outcome of the June 18 vote could determine the future of Diana's tender offer for Genco.