Teekay Tankers Ltd. announced that it has agreed to acquire all the remaining issued and outstanding shares of Tanker Investments Ltd., in a share-for-share merger at an exchange ratio of 3.30 Teekay Tankers Class A common shares for each TIL common share. As part of the transaction, Teekay Tankers will assume approximately $350 million of TIL’s long-term debt, which includes two revolving credit facilities and a term loan, and on a pro forma basis as of March 31, 2017, the transaction adds approximately $117 million of liquidity to Teekay Tankers.