Star Bulk(US:SBLK) Newsfilter·2024-04-09 11:50Core Points - Star Bulk Carriers Corp. has completed its merger with Eagle Bulk Shipping Inc., creating a global leader in dry bulk shipping [1] - Each Eagle shareholder received 2.6211 shares of Star Bulk common stock for each share of Eagle common stock owned, and Eagle common stock has ceased trading [1] - The merger is expected to enhance Star Bulk's scale, financial profile, and technical capabilities, aiming to deliver sustainable value for shareholders [1] Company Overview - Star Bulk is a global shipping company focused on dry bulk cargo transportation, with a fleet of 163 owned vessels and an aggregate capacity of 15.6 million deadweight tons (dwt) [4] - The company transports major bulks such as iron ore, minerals, and grain, as well as minor bulks including bauxite, fertilizers, and steel products [4] - Star Bulk was incorporated in the Marshall Islands in 2006 and has executive offices in multiple locations including Athens, New York, and Singapore [4] Leadership Changes - Following the merger, Gary Weston has joined the Star Bulk Board of Directors, and Bo Westergaard has joined the new leadership team [2] - Costa Tsoutsoplides will serve as interim Senior Advisor to assist with the integration of the businesses [2] Advisory Information - Cravath, Swaine & Moore LLP acted as legal counsel for Star Bulk, while Houlihan Lokey served as financial advisor to Eagle [3] - Akin Gump Strauss Hauer & Feld LLP and Hogan Lovells US LLP provided legal counsel to Eagle and its Board of Directors, respectively [3]