International Seaways to Acquire Bruton Limited in VLCC Fleet Expansion
International Seaways announced agreements to acquire Bruton Limited in a strategic combination that will expand its VLCC fleet.
Story updates
06:30:41 AM UTC
SquawkNews
International Seaways, Inc. agreed to acquire Bruton Limited for about $370M, adding 4 VLCCs. About 96% of consideration will be ~3.12M INSW shares, with the rest in cash; closing expected after Bruton's late-Oct. shareholder vote.Material DetailsContext by AI AnalystThis is a mid-cycle scale-up, a…
06:30:48 AM UTC
SquawkNews
Bruton signed merger agreements with International Seaways. Holders >10,000 NDRs will get INSW shares at a 0.0519 ratio; ≤10,000 NDRs receive $6.3044 per NDR in NOK. About 50.5% have agreed to vote in favor. Completion expected early Nov 2026, subject to SGM approval.Material DetailsContext by AI A…
06:36:21 AM UTC
SquawkNews
International Seaways Agrees to Acquire Bruton in Transactions Valuing It at Around $370M >INSW
International Seaways, Inc. (NYSE: INSW), a major global tanker company that transports crude oil and petroleum products, said it has signed agreements to acquire Bruton Limited (OSL: BRUT).