The Fairstar board of management recommends investors to accept an offer of NOK 10 per share for all remaining Fairstar shares not yet held by Dockwise, which is less than 5% according to Dockwise. The board has also stepped down, in order to facilitate integration between the two companies. All court cases between the two companies have been withdrawn. Our view: This news speeds up the squeeze-out procedure, and it facilitates integration between the two companies. It has no major impact on our estimates. Dockwise will release 2Q12 results on 14 August: The 2Q12 results will include the Fairstar results as from 9 May 2012. We had expected them include to the Fairstar results as from 1 January, so we will have to take another look at our estimates.