Economou Set to Acquire DryShips

Economou

DryShips announced it has received a non-binding offer letter from SPII Holdings, a company controlled by DryShips Chairman and Chief Executive Officer, Mr. George Economou, which proposes a transaction pursuant to which the company would be merged into a subsidiary of SPII Holdings.

The board of directors of the Company has formed a special committee consisting solely of disinterested directors to consider the proposal.

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