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Non-Tech : Shipping - Oil & Gas Tankers, Dry cargo, LNG -- Ignore unavailable to you. Want to Upgrade?

To: Paul Senior who wrote (2568)	9/30/2024 8:46:09 PM
From: Julius Wong	Respond to of 2659

Greek shipping magnate George Economou increases his recent efforts to gain control of Performance Shipping. After commencing a proxy battle last month, Mr. Economou launched a cash tender offer to acquire all of the company's outstanding common stock at a price of $3.00 per share. However, the offer is highly conditional and essentially requires the company to hand over control to Mr. Economou rather than defending against the unsolicited approach. With Chairwoman Aliki Paliou and her spouse, CEO Andreas Michalopoulos, controlling approximately 90% of the voting rights, I do not see a viable path forward for Mr. Economou to gain control of Performance Shipping. seekingalpha.com