NM story not over

Although Navios Maritime Holdings (NM) was carved up and diced, and eventually the remainder of the company taken private by CEO Angeliki Frangou, a part of NM still seems to be kicking and screaming. That’s the preferred share owners who are now being teased with a new offer.

https://navios.gcs-web.com/news-releases/news-release-details/navios-maritime-holdings-inc-launches-tender-offer-purchase-575

A reminder - CEO Frangou and NM stopped the dividend payouts early, so those preferred share owners have been deeply underwater for years. I suspect some of those owners are holding out just to spite Frangou

3 Likes