Boskalis launches bid for Dockwise

Key asset: Dockwise's newbuild heavy-lift flagship Vanguard

DOCKWISE

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Steve Marshall

 08 February 2013 08:20 GMT

Dutch heavy-lift contractor Boskalis formally launched on Friday a mandatory takeover bid for compatriot rival Dockwise after further lifting its stake in the company.

The offer at the previously announced price of €18.50 (Nkr137.65) per share is set to kick off at the start of trading on 11 February with a one-month period to expiry, Oslo-listed Dockwise said in a bourse statement.

Papendrecht-based dredging and marine outfit Boskalis has bumped up its stake in the takeover target to 42% with a series of share transactions over the past week and has also gained further “irrevocable commitments” that would give it a total shareholding of 92%.

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