Fairstar Heavy Transport rejects Dockwise bid

News - April 24, 2012

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Fairstar Heavy Transport has received, and rejected, an unsolicited, conditional offer from Dockwise to acquire Fairstar shares at a purchase price of NKr 9.3 per share.

The Joint Supervisory and Management Boards of Fairstar have concluded that the conditional offer significantly undervalues the business and has recommended to Fairstar shareholders not to accept the offer.

The Board said it was aware that a number of shareholders have been solicited by Dockwise to enter into a conditional agreement at the current offer price and cautioned shareholders to consider that accepting such an arrangement may limit their opportunities to accept an alternative proposal at a higher offer.

 

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