Vard gets 24 cents/share privatisation offer from Fincantieri
Source: TheEdge Markets | Publish date: Mon, 14 Nov 2016, 09:04 AM | >> Read article in News website
SINGAPORE (Nov 14): Shipbuilder Vard Holdings has received an offer of 24 cents per share to take the company private from 55.63% owner Fincantieri Group.
With 1.18 billion outstanding shares, Fincantieri's offer values Vard in excess of $283 million.
Vard shares last traded at 23 cents. The offer price is said to represent a premium of about 11.63% and 29.73% over the volume weighted average price per share for the one-month and six-month periods up to and including Nov 11 respectively.
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