OMI acquired by Teekay and TORM for $2.2 billion
Clients OMI Corporation
Jones Day advised OMI Corporation in its $2.2 billion acquisition by Teekay Shipping Corporation and A/S Dampskibsselskabet TORM. OMI shareholders received $29.25 in cash for each share. Teekay and TORM equally split the total cost of the transaction, including assumed net debt. In addition to M&A representation, Jones Day provided antitrust, employee benefits, and tax advice regarding this transaction.