Global Oceanic Carriers agrees 170.5p per share merger with Newport Holdings

Global Oceanic Carriers Ltd. said it has agreed to a 170.5 pence per share recommended cash offer from Newport Holdings Ltd. to buy the company.

The dry bulk cargo carrier said the offer values the company at 68.3 million pounds, adding the offer price represents a premium of about 29 percent to its closing price on Thursday.

Global Oceanic Carriers said it has also sought the cancellation of its shares on London's AIM.

Source: http://www.iii.co.uk