“Inherently unfair”: Danaos denounces the Eagle Bulk poison pill and the Oaktree takeover

Danaos Corp on Tuesday expressed “serious concerns” over Eagle Bulk Shipping’s “unilateral” decision to adopt a poison pill that prevents the Greek company from increasing its stake in the Gary Vogel-led company.

Eagle Bulk’s decision “to adopt the poison pill without seeking prior shareholder approval raises the question of whether the board is actually acting in the best interests of shareholders,” Piraeus-based Danaos said. Eagle Bulk’s largest shareholder, in a public open letter. to the management of the company.