October 12, 2006
Executive Compensation and Employee Benefits Department advises Maritans CEO Jonathan P. Whitworth and his Senior Management Team on issues related to merger with OSG.
On September 25, it was announced that Overseas Shipholding Group, Inc. and Maritrans Inc. have entered into a definitive merger agreement whereby OSG will acquire Maritrans Inc., a leading U.S. Flag crude oil and petroleum product shipping company, for $455 million. Willkie’s Executive Compensation and Employee Benefits Department advised Maritans CEO Jonathan P. Whitworth and his Senior Management Team on this transaction. Maritans owns and operates one of the largest fleets of double hull vessels serving the East coast and U.S. Gulf coast trades. The transaction combines two fleets with complementary strengths in different trade routes and diversifies OSG's U.S. Flag presence with the ability to offer expanded services to current and future customers of both companies. The deal was handled by partner Stephen Lindo and associate Jordan Messinger.