=DryShips (DRYS) to be acquired by company controlled by Chairman and CEO George Economou for $5.25/share

DryShips to be acquired by company controlled by Chairman and CEO George Economou for $5.25/share in cash
The Company's Board of Directors, acting on the unanimous recommendation of the Special Committee, approved the Merger Agreement. The Special Committee, with the assistance of its independent financial and legal advisors, exclusively negotiated the terms of the Merger Agreement with SPII. The merger is expected to close in the fourth quarter of 2019.

The deal comes about two months after DryShips said it received a non-binding offer letter from SPII.