Golden Ocean Group Limited (GOGL) and CMB.TECH NV (CMBT) have agreed to a stock-for-stock merger, with CMB.TECH NV as the surviving entity. Under the terms of the deal, shareholders of Golden Ocean Group will receive 0.95 shares of CMB.TECH for each GOGL share they hold. Based on a CMBT share price of $8.70, this values each GOGL share at approximately $8.27. The merger will combine the two companies' fleets to create a shipping giant with more than 250 vessels. The deal has generated mixed reactions among investors and analysts, with Golden Ocean shares surging post-announcement while CMBT shares have experienced some volatility. CMB.TECH is hosting an investor day to discuss its strategy and the merger, though details on future dividend policies remain unclear amid anticipated capital expenditure requirements. Alexander Saverys, a key figure in the transaction, emphasized a strategic shift away from pure-play business models toward diversification following the merger.