Mergers & Acquisitions ·
International Seaways agrees to acquire Bruton Limited for approximately $370 million in cash and stock
INSWInternational Seaways, Inc.
International Seaways has entered into agreements to acquire Bruton Limited in a two-step transaction valued at approximately $370 million. The company will first acquire a 50.5% interest from shareholders via an exchange of 0.0519 shares per Bruton share, expected to settle around October 20, 2026. Subsequently, it will merge with Bruton to acquire the remaining shares for $6.3044 in cash and stock, subject to shareholder approval at a special meeting on or about October 30, 2026. The transaction combines Bruton’s four VLCC vessels with Seaways’ fleet of approximately 70 tankers. Additionally, the company announced preliminary third-quarter 2026 net income of $340-$350 million and shipping revenues of $480-$490 million. International Seaways is a leading global tanker company providing energy transportation services for crude oil and petroleum products.