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Ardmore rejects Hafnia proposal: Offer is too optimistic and too low

Product tanker ship operator Ardmore has rejected a merger proposal from competitor Hafnia. The Ardmore board of directors feels the offer undervalues the Irish shipping company.

Photo: Anthony Gurnee, topchef i Ardmore Shipping.

Ardmore politely declined after Hafnia proposed to the Irish product tanker operator.

On Monday, Hafnia announced that the shipping company in mid-June sent Ardmore's chairman a proposal to merge the two product tanker companies, with Hafnia as majority shareholder in the combined entity.

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