Hadjipateras fires back as Sohmen-Pao spat rumbles on

Hadjipateras fires back as Sohmen-Pao spat rumbles on

Determined to have the last word in the four-month takeover tussle between BW LPG and Dorian LPG, John Hadjipateras, Dorian’s boss, has responded to his counterpart, Andreas Sohmen-Pao.

Yesterday, BW pulled the plug on a proposed $1.1bn takeover of Dorian, citing the Hadjipateras-led company’s unwillingness to negotiate as a barrier to getting the deal over the line.

However, Hadjipateras has fired back, writing to Sohmen-Pao and reminding him that the two companies did hold multiple meetings over the past few months, including as recently as a fortnight ago.

“To explore the full range of value-creating opportunities available to Dorian LPG, we asked several times if you could improve your proposal, and left the door open to further discussion and a response to the issues that we outlined in our latest meeting. Instead, you have refused to consider improving your proposal and, most recently, have withdrawn your proposal,” Hadjipateras wrote.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

Related Posts