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Dockwise shares rise on hope of higher offer
Boskalis says it is sticking to its offer price of 17.20 euros per share, or 682 million euros ($885 million)in total despite the Boskalis comments.Dockwise says the offer undervalues its business and that some Dockwise shareholders think the price is too low.
“To stop the nagging they could raise the price by 1 or 2 euros. Investors only risk losing one or two dimes. Boskalis can offer any price, they have a lot of money,” Tom Muller, analyst at Dutch private bank Theodoor Gilissen, says.
With about 40 million Dockwise shares outstanding, and Boskalis already owning 33 percent of the company, a higher offer would only cost a few dozen million euros more, Muller says. (Reuters)
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