Oil tanker company Frontline said on Monday a $4.2 billion deal to merge with rival Euronav NV was terminated, a combination which would have created the world's largest publicly listed tanker company.
was terminated, a combination which would have created the world's largest publicly listed tanker company.
Frontline will not make a voluntary conditional exchange offer for Belgian oil tanker and storage operator Euronav's shares and will no longer seek a listing on Euronext Brussels, it said in a statement. "We regret that we could not complete the merger as envisaged in July 2022, as that would have created the by far largest publicly listed tanker company," Chief Executive Lars Barstad said.the deal last year, aiming to create a market-leading oil tanker group with 146 vessels. Euronav had received "a clear signal" from shareholders in support of its proposed deal.
However, since the announcement of the planned merger, Euronav had clashed with its biggest shareholder Compagnie Maritime Belge , which sought to block it. The merged company was expected to have a market capitalisation of more than $4 billion and the merger was supposed to generate synergies of at least $60 million a year.its first quarterly net profit since 2020 and core earnings more than 10 times higher than a year ago, thanks to accelerated large tanker freight rate recovery.
日本 最新ニュース, 日本 見出し
Similar News:他のニュース ソースから収集した、これに似たニュース記事を読むこともできます。
NURSES STRIKE: Frontline workers walk out of two hospitals Monday morning after contract negotiations falter | amNewYorkThousands of nurses officially walked off the job at Mount Sinai Hospital in Manhattan and Montefiore Bronx Monday after negotiations fell apart during the early hours of the morning.
続きを読む »
Russia deploys 300 Chechen soldiers to frontline to boost failing campaignToday's Chechnya is headed up by Kremlin-backed Ramzan Kadyrov, although there are Chechen soldiers present in Ukraine fighting for Kyiv's forces.
続きを読む »
Black Monday promises to turn up NFL head coaching carousel with more firingsSaturday’ s news that the Denver Broncos have requested and received permission from the New Orleans Saints to interview Sean Payton, per ESPN, was the latest reminder that more dominoes are …
続きを読む »
LAUSD urges students to get tested for COVID before returning to classes MondayThe Los Angeles Unified School District is encouraging parents to get students tested for COVID-19 before they return to classes tomorrow after winter break.
続きを読む »