Arlington Tankers' largest shareholders to support merger with General Maritime

By Lisa Kerner

Charlotte, N.C., Dec. 10 - Arlington Tankers Ltd.'s largest shareholders, Stena AB and Concordia Maritime AB, will vote in favor of the company's merger with General Maritime Corp. at Arlington Tankers' special meeting on Tuesday.

Stena and Concordia Maritime directly and indirectly own a total of 2,787,772 common shares, or approximately 18% of Arlington Tankers' outstanding shares, an Arlington Tankers news release said.

It was previously reported that General Maritime and Arlington Tankers will combine in a stock-for-stock deal that gives General Maritime shareholders 1.34 shares of the combined company for each share of General Maritime held.

Shareholders of Arlington Tankers will receive one share of the combined company for each share of Arlington Tankers held.

General Maritime shareholders will vote on the merger at a separate special meeting also to be held Tuesday.

Both General Maritime and Arlington Tankers ship crude oil products. New York-based General Maritime operates 21 tankers. Arlington Tankers, located in Hamilton, Bermuda, operates a newer fleet of eight tankers.

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