Offer upped by Boskalis

By Josh Lewis

 20 December 2012 23:59 GMT

Netherlands-based Royal Boskalis Westminster has increased its takeover offer for heavy-lift specialist Dockwise by about 5%, valuing the company at €714 million ($939.8 million).

Boskalis increased its offer to €18 per share on 17 December, up from the €17.20 per share tabled last month.

As of 17 December, more than 72% of Dockwise shares had already been acquired or committed to Boskalis.

Dockwise said it was “encouraged” by the new offer but argued the increased price still did not “sufficiently reflect the value” of the company.

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