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Provider: Reuters Investment Profile
Provider: Sadif Analytics Prime

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Dockwise Ltd Announces Update on Intended Offer from Koninklijke Boskalis Westminster NV

Thursday, 29 Nov 2012 12:50pm EST 

Dockwise Ltd announced that it invited Koninklijke Boskalis Westminster NV to clarify its offer for the acquisition of all outstanding shares of Dockwise Ltd. The Board of Directors of Dockwise has - together with its advisors - started to review the consequences of a potential combination of Dockwise with Boskalis for the Company as a whole, including its shareholders, as well as the employees, clients and other stakeholders. Dockwise has taken notice of the acquisition by Boskalis of 33% of the Dockwise shares. In addition Dockwise consulted with various large Dockwise shareholders, and several minority shareholders, together representing some 25% of the total share capital of Dockwise, have communicated their dissatisfaction with the current offer price. At this preliminary stage the Board of Directors sees various merits in the communicated strategic rationale of a potential combination of Dockwise and Boskalis. However, 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. 

Company Quote

0.62 +1.48%
8:41am EDT