Aurora rejects Avance Gas takeover bid

Norwegian Aurora's board of directors is not satisfied with the bid from Avance Gas and thus recommends its shareholders to vote against the competitor's attempt at acquiring the carrier.

BY KATRINE GRØNVALD RAUN

It does not look set to be an easy task for Norwegian carrier Avance Gas to complete its attempt at acquiring competitor Aurora LPG. When Avance in mid-November announced its plans to make a bid on Aurora, the Aurora board of directors aired a degree of skepticism about the attempt in the wake of the announcement. Now the board calls on its shareholders to reject the offer.

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