Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

Kirby Buys Penn Maritime, Maritime Investments For Nearly $299 Mln - Quick Facts

RELATED NEWS
Trade KEX now with 

Kirby Corp (KEX: Quote), 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.

Click here to receive FREE breaking news email alerts for Kirby Corp and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Stocks came under pressure in early trading on Friday and remained firmly in the red throughout the remainder of the trading session. With the losses on the day, the S&P 500 pulled back well off yesterday's record closing high. President Barack Obama is meeting with presidents from Central American nations on Friday as the U.S. struggles to deal with a surge of unaccompanied children across the southern border. Despite calls from some leading conservatives, the results of a new CNN/ORC International poll released Friday showed that a vast majority of Americans do not believe that President Barack Obama should be impeached and removed from office.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.