Big bulker merger

Earlier today (12/11), Star Bulk (SBLK) and Eagle Bulk (EGLE) announce a merger deal. It is an all stock deal, with an EGLE bulk shareholder receiving 2.6211 SBLK shares per EGLE share

SBLK was already loaded with Cape category vessels. Now, they are also loaded with Supramax/Ultramax vessels. Proforma fleet is over 160 vessels. I suspect there will be some fleet pruning in 2024