Seaspan Corp. (NYSE:SSW) entered into a binding memorandum of understanding to acquire Seaspan Management Services Limited for $54 million in stock on December 13, 2011. The deal value of $54 million is excluding potential balance sheet adjustments and future fleet growth-based payments. Additionally, as part of the transaction, Seaspan will acquire and retire 100% of its outstanding Class C Common Stock held by the owners of the Seaspan Management Services Limited. The transaction was approved by Seaspan Corp's conflicts committee comprised of independent directors and remains subject to negotiation of final documentation and customary closing conditions. The transaction is subject to execution of lock- up agreements, escrow agreement, registration rights agreement, shareholders rights agreement amendment, Seaspan Mark License agreement and W Logo License agreement and resignations of Lawrence Simkins and Todd Wilson as Directors of Seaspan Management. The transaction is expected to close near the end of January 2012. Houlihan Lokey acted as fairness opinion provider for Seaspan Corp. David S. Matheson of Perkins Coie LLP and Mark Lawson of Watson, Farley & Williams LLP acted as legal advisor for Seaspan Corp. David G. Glennie of Blake, Cassels & Graydon LLP acted as legal advisor for sellers. Conyers Dill & Pearman Limited acted as advisor in the transaction. Seaspan Corp. (NYSE:SSW) completed the acquisition of Seaspan Management Services Limited for $44.1 million on January 27, 2012. A share purchase agreement was signed on January 27, 2012. As per the agreement deal was adjusted to $44.1 million. Out of the total consideration $6.1 million will be deposited in the escrow account and 37.98 million was paid on closing.