From gCaptain, February 22:
Greece-based LNG shipping company GasLog (NYSE: GLOG) has entered into an agreement to merge with a unit of the world’s largest asset management firm BlackRock, resulting in the NYSE-listed company going private.
Under the terms of the deal, BlackRock’s Global Energy & Power Infrastructure team will acquire all of the outstanding common shares of GasLog, not including certain “Rolling Shareholders”, for $5.80 in cash per common share. The company said the offer represents a 17% premium to the closing price of GasLog’s common shares on February 19, 2021 and a 22% premium to the volume weighted average share price of GasLog’s common shares over the last 30 days.
Upon completion of the transaction, the Rolling Shareholders will continue to hold approximately 55% of the outstanding common shares of GasLog with BlackRock’s team holding the remaining 45%. GasLog’s common shares will be delisted from the New York Stock Exchange. Rolling Shareholders include Blenheim Holdings Ltd., which is wholly owned by the Livanos family, and a wholly owned affiliate of the Onassis Foundation....
....MUCH MORE
The class-action securities attorneys are already on it:
GASLOG ALERT: Bragar Eagel & Squire, P.C. Investigates Sale of GLOG and Encourages Investors to Contact the Firm
Theirs is truly a "Ya snooze, ya loose" business. Gotta get that lead plaintiff and get to the courthouse ahead of the crowd.
