International Seaways Announces Definitive Agreement to Acquire Bruton Limited in Merger

International Seaways, Inc. (INSW) has entered into a definitive Transaction Agreement to acquire Bruton Limited through a merger. Upon completion, Bruton will become an indirect wholly-owned subsidiary of INSW. The agreement follows Exchange and Support Agreements secured with shareholders representing approximately 50.5% of Bruton's outstanding shares.

Key Details

• Merger Consideration: Bruton shareholders holding more than 10,000 shares will receive 0.05190 shares of INSW common stock per Bruton share. Shareholders with 10,000 or fewer shares will receive $6.3044 in cash per share.
• Support Agreements: INSW executed agreements with shareholders holding a collective 50.5% of Bruton's shares to exchange their holdings for INSW stock and vote in favor of the merger. These private exchanges are expected to close around October 20, 2026.
• Timeline & Conditions: The merger is subject to approval by Bruton's shareholders, with a special meeting expected on or about October 30, 2026. The transaction is anticipated to close promptly after the shareholder vote, subject to customary closing conditions.