Economou's plan to buy DryShips propels tankers, shippers

Tanker and shipper stocks are rallying after DryShips (DRYS +35.4%) agreed to be purchased by a group controlled by CEO George Economou, which is buying the shares it does not already own for $5.25/share in cash.

Relevant tickers include: NM +13.4%, FRO +10.4%, NAT +8.5%, TNK +5.7%, DHT +5.6%, GNK +4.9%, EURN +4.7%, TGP +4.6%, SALT +4.6%, EGLE +4.6%, NMM +4.2%, TK +4%, GLOP +3.8%, SB +3.5%, GLOG +2.9%, DSX +2.8%, GMLP +2.5%, HMLP +2%, GLNG +1.3%.

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Now read: Tracking David Einhorn's Portfolio - Q2 2019 Update »

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