Marine Link
Wednesday, December 7, 2016

Holyman Rejects Takeover Bid

September 10, 1999

Directors of shipping and transport group Holyman Ltd. unanimously rejected a revised takeover bid from tugboat operator Adsteam Marine Ltd., saying it was still below fair value. "The revised bid continues to undervalue the Holyman business and falls well short of fair price for control," Holyman managing director James Bryant said. The new Adsteam bid, which was upped to 50 cents a share from 45 cents, was still significantly below a valuation prepared by SG Hambros which puts Holyman at between 60 and 89 cents a share, Bryant said.


 
Maritime Reporter Magazine Cover Nov 2016 - Workboat Edition

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Subscribe
Maritime Reporter E-News subscription

Maritime Reporter E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for Maritime Reporter E-News