HAL raises bid for Boskalis
Dutch investor HAL Holding has increased its offer to take over Dutch dredging and marine services provider Boskalis to €33 ($33) per share.
The Curacao-based publicly traded trust controlled by the Van der Vorm family upped the offer by €1 per share, bringing the price for Boskalis to €4.2bn, at a premium of 32% to Boskalis’ closing price on March 9.
HAL has been a shareholder of Boskalis since 1989, and currently holds around 55% of its shares in the issued share capital.
When it launched its first takeover offer, HAL noted that Boskalis would be better off without a listing and that it has no intention of changing its management or governance and also that it does not envisage reductions in the company’s workforce.
The Papendrecht-based Boskalis said its board has concluded that the increased price is fair, from a financial point of view to the shareholders and has recommended that they accept the offer. The acceptance period will expire on September 6, 2022.