Boskallis' Wooing of Dockwise Culminates in Success

Press Release
Wednesday, February 13, 2013

Dockwise supports combination with Boskalis and recommends the Boskalis Offer to shareholders.

Extracts from the Dockwise statement follow:

The Board of Directors of Dockwise has unanimously resolved to support the combination of Dockwise and Boskalis and to recommend the mandatory cash offer by Boskalis of EUR 18.50 / NOK 137.65 per share cum dividend for all of the issued and outstanding common shares in the capital of Dockwise. Boskalis welcomes the position of Dockwise.

As indicated by Dockwise from the outset of the offer process, Dockwise recognises the strategic merits of the Combination. The Combination fits within the strategy of Dockwise to expand in the offshore transport and installation as well as the logistical management market, and is aligned with the focus of Boskalis on the strengthening and expansion of its position in the offshore energy market. The Combination will have a stronger and broader position within the value chain for both the transport and installation and logistical management segments of the business.

Supported by Boskalis's strong balance sheet and global reach, Dockwise will be able to reach its strategic objectives in transport and installation and logistical management faster compared to a continued stand-alone scenario. The Board initially indicated that the intended offer price of EUR 17.20 undervalued Dockwise and did not reflect its potential, and has welcomed the subsequent price increases to the final Offer price of EUR 18.50 / NOK 137.65 which is accepted by 92.39% of the Dockwise shareholders.

André Goedée, CEO of Dockwise on the Offer and the Combination:
"From the outset, the Dockwise board has identified strategic merit in a combination with Boskalis, building on Dockwise's strategy. The understanding confirmed between the CEO's ensures the best and most efficient plan for the combination, we are pleased to recommend the offer. The Dockwise team looks forward to becoming part of the Boskalis group and with minimal operational overlap between our companies, we foresee a swift integration. I am confident that the combined expertise, uniquely available within Dockwise and Boskalis, will be successful in offering a broad integrated range of premium services to our current and future clients."

 

 

 


 

Maritime Reporter August 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Brent Crude Slips Towards US$102

Brent crude fell towards $102 a barrel on Tuesday on concerns of slowing oil demand growth due to weak economic recoveries in China and Europe, although new unrest

SGS Wet Welding Repairs Approved by DNV GL

DNV GL and Subsea Global Solutions LLC (SGS) say that they have completed an extensive joint research and development program, that will allow permanent repairs

Aker Solutions Update on Company Hive-Off

Aker Solutions informs updated unaudited financial information for the two companies - the new Aker Solutions and Akastor - that will be formed following the split

Finance

Brent Crude Slips Towards US$102

Brent crude fell towards $102 a barrel on Tuesday on concerns of slowing oil demand growth due to weak economic recoveries in China and Europe, although new unrest

Aker Solutions Update on Company Hive-Off

Aker Solutions informs updated unaudited financial information for the two companies - the new Aker Solutions and Akastor - that will be formed following the split

Russia's Shipping Major Reports Strong 1H 2014

OAO Sovcomflot (SCF Group), Russia’s largest shipping company and a global leader in seaborne energy transportation and offshore services, has announced its financial

Mergers & Acquisitions

Aker Solutions Update on Company Hive-Off

Aker Solutions informs updated unaudited financial information for the two companies - the new Aker Solutions and Akastor - that will be formed following the split

NYK Opens New Planning Center in Kumamoto

On September 1, 2014, NYK and Kozo Keikaku Engineering Inc. established a stowage planning center for container shipping at the Kumamoto office of Kozo Keikaku Engineering Inc.

Dentressangle Acquire U.S. 3PL Provider Jacobson

France's Norbert Dentressangle says it has completed the previously announced acquisition of all the shares of privately held U.S. third party logistics (3PL) provider,

 
 
Maritime Careers / Shipboard Positions Maritime Standards Naval Architecture Navigation Offshore Oil Pod Propulsion Port Authority Ship Electronics Ship Simulators Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.2270 sec (4 req/sec)