Teekay Shipping Corp. (TK) and A/S Dampskibsselskabet TORM (TRMD) announced that Omaha Inc. , a jointly owned subsidiary of Teekay and TORM, now owns more than 90% of the outstanding shares of OMI Corporation (OMM).
The merger of OMI with and into Omaha is expected to occur on June 8, 2007. As a result of the merger, the final step in the acquisition of OMI, all the remaining outstanding OMI shares will be cancelled and converted into the right to receive $29.25 per share, net to the seller in cash without interest, less any required withholding taxes.
Teekay changed its name from Teekay Shipping Corporation to Teekay Corporation on May 30, 2007.
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