NEW YORK, March 31, 2021 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Diamond S Shipping Inc. ("Diamond S") ( NYSE: DSSI) in connection with the proposed acquisition of the Company by International Seaways, Inc. ("INSW" or the "Company") ( NYSE: INSW). Under the terms of the merger agreement, Diamond S shareholders will receive 0.55375 shares of INSW common stock for each share of Diamond S common stock that they hold, representing implied per share merger consideration of $10.17 based upon INSW's March 30, 2021 closing price of $18.37. Existing INSW shareholders will own approximately 55% of the outstanding shares of the combined company and Diamond S shareholders are expected to own approximately 44.25%. The stock-for-stock transaction is valued at approximately $2 billion.
If you own DSSI shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, visit our website:
Or please contact:
Joshua Rubin, Esq.
1500 Broadway, 16th Floor
New York, NY 10036
WeissLaw LLP is investigating whether DSSI's board acted in the best interest of DSSI's public shareholders in agreeing to the proposed transaction and whether all information regarding the process undertaken by the board and the valuation of the transaction will be fully and fairly disclosed to DSSI's public shareholders.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at [email protected]
SOURCE WeissLaw LLP