International Seaways, Inc. (INSW) Form 8-K — Oct 16, 2026
International Seaways (INSW) signed a Transaction Agreement on October 16, 2026 to acquire Bruton Limited, a Bermuda-incorporated tanker company listed on Euronext Growth Oslo, via a statutory merger with its subsidiary Bravo Ltd. INSW also entered irrevocable Exchange and Support Agreements with Bruton shareholders holding roughly 50.5% of Bruton's outstanding shares, who agreed to exchange their shares for 0.05190 INSW shares each (closing around October 20, 2026) and vote for the merger. Small holders of 10,000 or fewer Bruton shares will receive $6.3044 in cash per share.
Key figures
- Outside Date
- November 15, 2026
- Cashout Price
- $6.3044 per share for holders of 10,000 or fewer Bruton shares
- Exchange Ratio
- 0.05190 INSW shares per Bruton common share
- Merger Vote Date
- on or about October 30, 2026
- Exchange Closing Date
- on or about October 20, 2026
- Bruton Shares Locked Up
- approximately 50.5% of Bruton common shares (via NDRs)
- Insw Shares Outstanding
- 49531311
- Bruton Shares Outstanding
- 61923808
- Bruton Options Outstanding
- 825000
AI analysis
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