Saltchuk Welcomes Overseas Shipholding Group to Its Family of Companies
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jul 10 2024
0mins
Source: Newsfilter
- Saltchuk Resources, Inc. Acquisition of Overseas Shipholding Group (OSG):
- Saltchuk successfully completed the acquisition of all outstanding shares of OSG for $8.50 per share in cash.
- OSG is now a wholly owned subsidiary of Saltchuk, adding energy shipping to Saltchuk's business units.
- The transaction was valued at approximately $950 million and closed recently.
- OSG will remain standalone and independently managed within the Saltchuk family of companies.
- All shares of OSG common stock will cease trading on NYSE and be delisted post-acquisition.
Analyst Views on OSG
Wall Street analysts forecast OSG stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for OSG is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
0 Analyst Rating
0 Buy
0 Hold
0 Sell
Current: 6.310
Low
Averages
High
Current: 6.310
Low
Averages
High
No data
About OSG
Octave Specialty Group, Inc. is a global specialty insurance company that builds, buys, and scales niche insurance distribution and underwriting businesses. It provides strategic direction, risk oversight, data and technology solutions, and capital support to MGA businesses operating across the U.S., U.K., and Bermuda. Its build-and-buy strategy is executed by its incubation division, Octave Ventures, and its acquisition division, Octave Partners. At Octave Ventures, it helps specialty underwriters to set up their own company, leveraging its resources. It offers funding, infrastructure, risk capital, and A+ rated paper as well as experienced guidance and support to underwriters looking to launch their own MGAs. Octave Partners identifies high-performing MGAs that would benefit from its partnership and add value to its expanding portfolio. To facilitate growth, it provides expertise, technology, distribution and capacity relationships, expansion and cross-company sales opportunities.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
