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Greetings fools,
I just posted this blog on CAPS http://caps.fool.com/Blogs/ViewPost.aspx?bpid=318558&t=0...

An Intresting dilema here.

http://ir.osg.com/phoenix.zhtml?c=82053&p=irol-newsAr......

NEW YORK, Dec 17, 2009 (BUSINESS WIRE) -- Overseas Shipholding Group, Inc. (NYSE: OSG), a market leader in providing energy transportation services, today announced that at 5:00 p.m., NYC time, on December 17, 2009, its wholly-owned subsidiary OSG Bulk Ships, Inc. purchased the remaining 1,077,639 common units (the "Units") of OSG America L.P. ("OSG America" or the "Partnership"; NYSE: OSP) outstanding and not already owned by OSG's subsidiaries through exercise of its repurchase right pursuant to Section 15.01 of the amended and restated limited partnership agreement of the Partnership.
OSG's subsidiaries now own all of the economic interests of the Partnership and will be entitled to all of the benefits resulting from those interests. In addition, the Units will be delisted from the New York Stock Exchange and are no longer publicly traded.

I had made a pick with OSP, now what if I were an actual individual holder of some of these units. Am I already bought out and just cut a check or do I still reap any benefits of being an owner of the partnership? Since I can't trade on the open market how would I sell my shares? Directly to OSG, or maybe through their bank?

Now my CAPS pick on OSP is still open. I was wondering how it will be handled. The price OSG Bulk bought at was $10.25 and I hope that would be reflected in my CAPS score if it is automatically closed out by CAPS.

Can anyone shed anymore light on the subject here?

Thankyou for any insight here.
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