Navios Maritime announces receipt of buyout offer of $1.84 per share

Navios Maritime announced that its board of directors received an unsolicited non-binding proposal from N Shipmanagement Acquisition, NSC, to acquire all of the outstanding shares not already beneficially owned by NSC and its affiliates for $1.84 in cash per common share. The Company’s board of directors has authorized a Special Committee, consisting solely of independent and disinterested directors, to retain advisors and to review, evaluate, negotiate and accept or reject the proposed transaction. The proposal is non-binding and is subject to the negotiation and execution of mutually acceptable definitive documentation. There can be no assurance that any definitive documentation will be executed or that any transaction will materialize.