Boskalis plants flag in Dockwise takeoverDockwise dissatisfied with $884 million offer.
Dockwise's board of directors have announced that it is dissatisfied with an $884 million offer by Dutch dredging company Boskalis.
Shareholders presenting 25% stake in the company expressed unhappiness with the offer price, saying it devalues the company.
‘The Board of Directors is of the opinion that the current intended offer price of EUR 17.20 per share cum dividend undervalues Dockwise and does not reflect its potential,’ the company said in a 29 November statement.
However, Dockwise's board said it could see some merit to combining the two companies. The board will meet with Boskalis representatives to further clarify the offer.
On Tuesday, Boskalis acquired 33% stake in Dockwise, making it the largest shareholder in the company. Backed by Dockwise shareholder HAL Investments (32%), Boskalis now holds controlling interest in Dockwise.
Subscribe
