# International Seaways to Acquire Bruton Limited in Stock and Cash Transaction

- URL: https://stocks.freetheai.org/news/international-seaways-to-acquire-bruton-limited-in-stock-and-cash-transaction-108020
- Published: 2026-10-16T06:30:00Z
- Category: mergers; sentiment: mixed; impact: medium
- Symbols: [NYSE:INSW](https://stocks.freetheai.org/symbols/NYSE-INSW)
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International Seaways, Inc. (INSW) has entered into a merger agreement to acquire Bruton Limited. Under the terms of the agreement, Bruton shareholders holding more than 10,000 Norwegian Depository Receipts (NDRs) will receive 0.0519 shares of International Seaways common stock for each Bruton share. NDR holders with 10,000 shares or fewer will receive cash consideration equal to $6.3044 per share in Norwegian kroner equivalent.

The transaction expands International Seaways' tanker presence by adding Bruton's fleet, which consists of one operational Very Large Crude Carrier (VLCC) and three VLCCs under construction with scheduled deliveries between late 2026 and late 2027. Key shareholders representing roughly 50.5% of Bruton's outstanding shares, including Drew Holdings Ltd. and Koch Inc., have agreed to exchange their shares and vote in favor of the transaction. Bruton's board of directors has unanimously approved the merger and recommended that shareholders vote in favor.

The deal is expected to complete in early November 2026, subject to standard conditions and approval by Bruton shareholders at a Special General Meeting. Following completion, Bruton plans to apply for delisting from Euronext Growth Oslo. Shares of International Seaways, Inc. (INSW) were trading at $113.10, down 4.74% on the day.

## Key points

- International Seaways, Inc. (INSW) agreed to acquire Bruton Limited through a Bermuda statutory merger.
- Bruton shareholders with over 10,000 shares receive 0.0519 INSW shares per share, while smaller holders receive $6.3044 per share in cash.
- Holders of 50.5% of Bruton shares, including Drew Holdings Ltd. and Koch Inc., agreed to vote in favor of the deal.
- The deal is scheduled to complete in early November 2026, after which Bruton plans to delist from Euronext Growth Oslo.

## Questions and answers

### What are the terms of the merger between International Seaways and Bruton Limited?

Bruton shareholders with more than 10,000 shares receive 0.0519 International Seaways shares per share. Smaller holders receive $6.3044 per share in cash.

### When is the merger expected to close?

The transaction is expected to close in early November 2026, pending approval at a Bruton Special General Meeting.

### What will happen to Bruton Limited shares after the merger?

Bruton Limited intends to apply to delist its shares from Euronext Growth Oslo as soon as practicable following completion.