International Seaways Adopts Limited Duration Stockholder Rights Plan
International Seaways, Inc. (NYSE:INSW) (the "Company" or "INSW") one of the largest tanker companies worldwide providing energy transportation services for crude oil and petroleum products, announced today that its Board of Directors has unanimously adopted a limited duration stockholder rights plan (the "Rights Plan").
The Rights Plan is intended to enable all Company stockholders to realize the long-term value of their investment in the Company. The Rights Plan will reduce the likelihood that any person or group gains control of the Company through open market accumulation, or other tactics potentially disadvantaging the interests of all stockholders, without paying all stockholders an
