Marine Log: Bear Stearns to Buy MC Shipping

“Marine Log reported that “MC Shipping Inc. (AMEX:MCX ) and Bear Stearns Merchant Banking (“BSMB”) announced today the signing of a merger agreement providing for the shipping company to be acquired by a newly-formed entity controlled by BSMB.” “DnB NOR Markets served as the financial advisor to MC Shipping Inc. in connection with the transaction, and Milbank, Tweed, Hadley & McCloy LLP served as legal counsel. HSBC Securities (USA) Inc. and Poten Capital Services, LLC served as financial advisors to BSMB, and Weil, Gotshal & Manges LLP served as legal counsel.”