International Seaways agrees to acquire Bruton in deal valued at about $370 million
INSW•International Seaways agreed to acquire Bruton in transactions valuing the target at approximately $370 million. The deal adds four VLCCs, including newbuildings, to International Seaways’ fleet of approximately 70 vessels.
1. Deal terms and timing
The initial acquisition of 50.5% of Bruton offers 0.0519 International Seaways shares per Bruton share, with settlement expected around October 20, 2026. Total consideration includes approximately 3.12 million shares, representing about 96% of the purchase price, with the remainder payable in cash. A merger for the remaining shares is expected to close promptly after a Bruton shareholder vote around October 30, 2026, subject to closing conditions.
