Liberty Shipping buys 88,270 shares of International Shipholding

By Lisa Kerner

Charlotte, N.C., Oct. 1 - Liberty Shipping Group LLC and its subsidiary Projection LLC reported the purchase of 88,270 shares of International Shipholding Corp. between Sept. 15 and Oct. 1 at prices from $19.74 to $23.75 each.

The investors beneficially own 503,000 shares, or 7%, of International Shipholding, according to a schedule 13D/A filed with the Securities and Exchange Commission.

On Sept. 15, Liberty said it was prepared to consider additional nonpublic information in support of a bid higher than its $25.75-per-share offer for International Shipholding.

Liberty also said it would consider taking its offer directly to the company's shareholders or seeking representation on International Shipholding's board of directors.

Based in Mobile, Ala., International Shipholding is a provider of international and domestic maritime transportation services.

Liberty is a Lake Success, N.Y.-based owner and operator of dry bulk vessels.

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