The shipping company maintains that it is adhering to the established merger agreement while navigating the complex approval process. Executives have refrained from providing a specific timeline for completion, emphasizing that finalization depends on securing both shareholder support and regulatory clearances in relevant jurisdictions.

Management warned that the deal remains subject to standard closing conditions, including potential legal risks and market uncertainties that could disrupt the anticipated timeline. Failure to meet these regulatory milestones could trigger termination clauses or necessitate penalty fees, according to the company’s latest filings with the SEC.