Seeing Value and Putting Cash to Work – Seaspan’s Tender

Contemporaneously, Seaspan commenced a tender offer, led by Citigroup, to purchase up to 10 million of its Class A common shares (approximately 14% of the shares issued and outstanding) at a price of $15/share, a premium of 43.5% to the prior day’s closing price of $10.45. The stock closed the next day at $12.16, an increase of 16.36%.

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