Friday, August 17, 2012


STX OSV: (Italian shipbuilder Fincantieri SpA said to bid for STX OSV stakes for $1.50/share according to sources.) The Italian state-controlled shipbuilder, is among final bidders for a stake in STX OSV and Carlyle has dropped out of the bidding process. STX Grp, which is seeking to sell its 51% stake in STX OSV, may reach a deal to divest the holding next mth according to sources. STX Group’s stake is worth $1.02b based on yesterday’s closing price. Note that STX OSV is currently trading at Cum dividend. Based on yesterday’s closing share price, an ex-div price could place share price at approx. $1.50.

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