M&A · Industrials · Deep Sea Foreign Transportation of Freight
Star Bulk Carriers Corp. to acquire Eagle Bulk Shipping Inc.
Announced Dec 11, 2023 · Closed Apr 9, 2024
Deal value—
Premium17.0%To unaffected price
EV / Adj. EBITDA—
ConsiderationAll stock
Transaction
- Acquirer
- Star Bulk Carriers Corp. (SBLK)
- Target
- Eagle Bulk Shipping Inc. (EGLE)
- Buyer type
- Strategic
- Offer price per share
- —
- Enterprise value
- —
- Status
- Closed Apr 9, 2024
Deal protections
- Break fee (target pays)
- $20.0M
- Reverse fee (buyer pays)
- —
- Go-shop
- Go-shop
- Financing
- —
Advisors
- To the acquirer
- Not disclosed
- To the target
- Houlihan Lokey
Sector context · Industrials
- Comparable deals
- 80 in the prior 24 months
- Premium
- 17.0% vs. 47.0% sector median
- EV / Adj. EBITDA
- Sector median 10.9x
- Break fee
- Sector median 2.9%
Timeline
- AnnouncedDec 11, 2023
- Proxy filedFeb 12, 2024
- Definitive proxyFeb 12, 2024
- Shareholder voteApr 5, 2024
- ClosedApr 9, 2024