Kirby Corp (KEX), on Friday revealed that it has closed the acquisition of Penn Maritime Inc. and Maritime Investments LLC , an operator of tank barges and tugboats used in the transportation of primarily black oil products in the United States, for nearly $299 million.
Texas-based Kirby said payment to Penn included, $146 million in cash, 500 Kirby common shares worth $29 million, valued at $58.16 per share, and $124 million for the 'retirement' of Penn's debt. The cash part of the consideration and retirement of Penn's debt were financed from the new issue of unsecured senior notes, said Kirby in a statement.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.