Norway: Frontline makes bid on DHT Holdings' shares
30.01.2017 Norway: Frontline makes bid on DHT Holdings' sharesE24.no, 30 Jan 2017, online:-
Bermuda-based oil tanker shipping company Frontline has intentions of acquiring Bermuda-based crude oil tanker company DHT Holdings to form the world's largest tanker company. Frontline has offered 0.725 Frontline shares per DHT Holdings share, where DHT shares are valued at USD 5.09 (EUR 4.75) per share as of 27 January 2017. Frontline already holds 16% or about 15 mn shares. DHT has offered shareholders preferred stock in accordance to its strategy for avoiding takeovers.
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