Overseas Shipholding to buy out stake held by Archer Daniels

April 24 (Reuters) - Overseas Shipholding Group Inc. (OSG.N) said it agreed to buy all of its outstanding stock held by Archer Daniels Midland Co. (ADM.N) for $65.42 a share.

Archer Daniels owned about 5.1 million shares, representing about 13.3 percent of outstanding shares as of March 31, the energy transportation services provider said in a statement.

The company said its board also authorized a new share buyback program of $200 million, replacing the prior $300 million share repurchase plan. (Reporting by Deepti Chaudhary in Bangalore)