Ford and Geely Explore Strategic Manufacturing Partnership in Europe 
Prudential Financial Reports Higher Q4 Profit on Strong Underwriting and Investment Gains 
Nvidia CEO Jensen Huang Says AI Investment Boom Is Just Beginning as NVDA Shares Surge 
Nvidia, ByteDance, and the U.S.-China AI Chip Standoff Over H200 Exports 
Rio Tinto Shares Hit Record High After Ending Glencore Merger Talks 
SpaceX Pushes for Early Stock Index Inclusion Ahead of Potential Record-Breaking IPO 
Nasdaq Proposes Fast-Track Rule to Accelerate Index Inclusion for Major New Listings 
Alphabet’s Massive AI Spending Surge Signals Confidence in Google’s Growth Engine 
SpaceX Prioritizes Moon Mission Before Mars as Starship Development Accelerates 
TSMC Eyes 3nm Chip Production in Japan with $17 Billion Kumamoto Investment 
Tencent Shares Slide After WeChat Restricts YuanBao AI Promotional Links 
Uber Ordered to Pay $8.5 Million in Bellwether Sexual Assault Lawsuit 
Global PC Makers Eye Chinese Memory Chip Suppliers Amid Ongoing Supply Crunch 
American Airlines CEO to Meet Pilots Union Amid Storm Response and Financial Concerns 
Missouri Judge Dismisses Lawsuit Challenging Starbucks’ Diversity and Inclusion Policies 
CK Hutchison Launches Arbitration After Panama Court Revokes Canal Port Licences 
SoftBank Shares Slide After Arm Earnings Miss Fuels Tech Stock Sell-Off 
HAMILTON, Bermuda, Nov. 27, 2017 -- Teekay Tankers Ltd. (Teekay Tankers) (NYSE:TNK) and Tanker Investments Ltd. (TIL) today announced the closing of the previously announced merger of the two companies. Upon the closing of the merger, each outstanding share of TIL common stock (other than shares held in the treasury of TIL or owned by Teekay Tankers or any of its subsidiaries) was exchanged for the right to receive 3.30 shares of Teekay Tankers Class A Common Stock, and TIL became a wholly owned subsidiary of Teekay Tankers.
About Teekay Tankers Ltd.
Teekay Tankers currently owns a fleet of 35 double-hull tankers, including 16 Suezmax tankers, 12 Aframax tankers, and seven Long Range 2 (LR2) product tankers, and has four capital leased Suezmax tankers and one contracted time charter-in vessel. Teekay Tankers’ vessels are employed through a mix of short- or medium-term fixed rate time charter contracts and spot tanker market trading. Teekay Tankers also owns a Very Large Crude Carrier (VLCC) through a 50 percent-owned joint venture. In addition, Teekay Tankers owns a ship-to-ship transfer business. Teekay Tankers was formed in December 2007 by Teekay Corporation as part of its strategy to expand its conventional oil tanker business.
Teekay Tankers’ common stock trades on the New York Stock Exchange under the symbol “TNK”.
About Tanker Investments Ltd.
TIL is a specialized investment company focused on the tanker market. TIL was formed in January 2014 to opportunistically purchase, operate and sell modern secondhand tankers to benefit from cyclical fluctuations in the tanker market. TIL’s fleet consists of 18 vessels.
Prior to the closing of the merger, TIL’s common stock traded on the Oslo Stock Exchange under the symbol “TIL”. TIL has requested that the Oslo Stock Exchange delist the TIL common stock in connection with the closing of the merger.
For Investor Relations
enquiries contact:
Ryan Hamilton
Tel: +1 (604) 609-2963
Website: www.teekaytankers.com
