Marshall Islands Dismisses Frontline's Bid to Stop DHT Takeover
The High Court of the Marshall Islands has dismissed with prejudice a lawsuit brought by tanker firm Frontline to stop rival DHT selling a major stake to shipper BW Group, DHT said on Monday. Frontline, which according to Thomson Reuters Eikon data holds a 10.3 percent stake in DHT and is controlled by shipping tycoon John Fredriksen, has been trying for the past year to take over its New York-listed rival. However, DHT struck a tankers-for-shares deal with BW Group in March, making the latter DHT's biggest shareholder with a stake of over 30 percent.
Marshall Islands Court Sets Date for Frontline Case against DHT
Oil tanker firm Frontline said on Friday the high court in the Marshall Islands has agreed to hear on May 17 its complaint against takeover target DHT Holdings, which is incorporated in the remote Pacific republic, over a rival deal with BW Offshore. Frontline, controlled by Norwegian-born billionaire John Fredriksen and owner of a 14.5 percent stake in DHT, has been trying for the past year to take over its New York-listed rival and is opposing what it called "unfair transaction…
