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Koninklijke Boskalis Westminster NV Announces Voluntary Offer for Dockwise Ltd at EUR 18.50 Per Share

Friday, 21 Dec 2012 03:39am EST 

Dockwise Ltd announced that Koninklijke Boskalis Westminster NV (Boskalis) announced with reference to the previous announcements, in which Boskalis announced its intention to make an offer for Dockwise, that Boskalis confirms it is making an all cash voluntary public offer (through its wholly owned subsidiary Boskalis Holding B.V.) for all the issued and outstanding ordinary shares of Dockwise. The offer is being made in euros at an offer price of EUR 18.50 per share (cum dividend), which is an increase of EUR 0.50 relative to December 17, 2012 announcement. The offer values Dockwise at EUR 733 million with an enterprise value of approximately EUR 1.25 billion. Boskalis announced that it strongly believes that the offer price represents full and fair value for the shareholders of Dockwise. In addition to HAL Investments B.V. and Project Holland Deelnemingen B.V., other shareholders, holding approximately 11.1% of the shares, have also agreed to an irrevocable undertaking to support and accept the offer in accordance with its terms, subject to customary conditions. Together with the shares acquired by Boskalis, in total approximately 33% of the shares, this means that approximately 83.5% is already committed to the offer. Constructive discussions are ongoing between Boskalis and Dockwise with respect to the proposed transaction. Boskalis has started its due diligence and is preparing the necessary regulatory filings, including relevant filings to antitrust authorities. 

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