Dockwise lifts stake in Fairstar

High and mighty: a Dockwise heavy-lift vessel

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Steve Marshall

 30 April 2012 08:52 GMT

Heavy-lift player pressing ahead with hostile takeover bid in face of opposition

Dockwise is pressing ahead with its hostile takeover effort for rival Fairstar Heavy Transport by boosting its stake in the latter, while refuting allegations the bid is “illegal”.

The Dutch heavy-lift specialist is set to increase its shareholding in Fairstar to 28%, having waived an outstanding condition of a purchase deal for an additional 9% of shares after acquiring 19% of the company last week, Dockwise said in a statement on Monday.

The company is now looking to seal a further deal to buy an additional 26% of Fairstar shares held by Oceanus…

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