OSG-Maritrans Deal Gets Nod

The FTC clears a shipping deal.
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The energy transportation services provider

Overseas Shipholding Group

(OSG) - Get Report

and

Maritrans

(TUG)

, a Tampa, Fla.-based shipper of petroleum products, said jointly Tuesday that the Federal Trade Commission, on behalf of itself and the antitrust division of the DoJ, granted early termination of the waiting period under the Hart-Scott-Rodino antitrust improvements act of 1976 with respect to the proposed acquisition of Maritrans by OSG.

Both the companies said that they entered into a definitive merger agreement on Sept. 25 for OSG to acquire Maritrans for $37.50 a share. The closure of the transaction remains subject to other customary conditions, including approval of Maritrans' stockholders.

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