Massive tanker merger could trigger bidding war
Euronav's offer to shareholders is significantly below the level offered by rival Frontline earlier this year to acquire Oslo-based DHT. Fearnley Securities does not rule out a new bidding war in the crude tanker sector. Frontline still sees opportunities in the market, the carrier tells ShippingWatch.
Belgian Euronav's announced offer Thursday to acquire and merge with Gener8 Maritime looks, in the wake of the news, to be the most remarkable deal of the year in the sector. The transaction will create the world's biggest crude oil tanker carrier.
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