The offer will be entirely in cash. Shareholder Project Holland Beheer, which owns 7,4% in Dockwise and which recently indicated that the initial offer of € 17.2 was insufficient, hascommitted to sell its shares to Boskalis, which brings total commitment to 72%, including the shares that Boskalis already owns. The offer will not have a minimum threshold, according to Boskalis. Boskalis aims to continue the dialogue with Dockwise management in order to get their recommendation for the offer. They also requested permission for a due diligence.
Seems like a done deal to us:
Now that Project Holland has committed, the group of shareholders that opposed the bid could be falling apart, asonly Sankaty remains as a large shareholder. We can imagine that it is now game, set, and match. We wish Dockwise a prosperous future within the Boskalis group.