OSG Completes Spinoff Of International Seaways, Becomes Jones Act Locker

The Overseas Shipholding Group (OSG) completed the taxable spinoff of International Seaways (INSW) on schedule last week. On November 30th, OSG shareholders should have received 0.3333 shares of INSW and the first day of trading was on December 1st. As discussed in our earlier piece, the situation for warrantholders was slightly different. As per usual, the internal goodwill was… Read More »