Orrick Advises SPII Holdings on Going Private Merger with DryShips


Orrick advised SPII Holdings on its going-private merger with DryShips. Under the merger agreement, SPII acquired the outstanding shares of the company that it does not already own for $5.25 per share in cash, without interest, implying a market capitalization for Dryships of approximately $456.2 million. The merger closed on October 11. The Orrick team included William Haft, David SchwartzDavid Gold, Stephen Ashley, and Ken Marx.