Shareholder Challenges Merger of B+H Companies

The three public companies associated with the Bergvall and Hudner group – B+H Bulk Carriers Ltd., B+H Ocean Carriers Ltd. and B+H Maritime Carriers Ltd. – said the independent committees of their boards of directors have agreed upon terms to merge and form a new company that would have a fleet of 17 dry bulk carriers and 10 product tankers.

Shareholders in the three firms will exchange their shares for stock in the new entity according to the following formula:

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