After Star Bulk Carriers (SBLK) and Eagle Bulk Shipping (EGLE) announced an all-stock merger under which Eagle’s shares are valued at $52.60 per share and Eagle will own 29% of the newly combined company, Stifel said “Star Bulk is at it again,” using its size and share liquidity to drive consolidating M&A activity as has been the case in the past. The firm, which views this as a good transaction for both parties, expects the market to like the news for both stocks and expects them to trade up on the open, the analyst tells investors. Stifel has Buy ratings on both Star Bulk and Eagle Bulk shares.
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