Boskalis set for best day since 1988 on HAL takeover bid
10/03/2022 14:26
(Updates)
** Shares in Boskalis BOSN.AS jump 30% after Dutch
investor HAL HLAN.AS said it would launch an offer to buy the
dredging and marine services firm urn:newsml:reuters.com:*:nL2N2VD0E0
** "The offer comes from the shareholder that already owns
46% and has a history with the company since 1989," AlphaValue's
analyst Wouter De Blaere flags
** Chances for board to accept the 32.50 euros per share
deal, which would value Boskalis at 4.2 bln euros ($4.7
billion), are "obviously high", he adds
** In De Blaere's view, the deal comes at a "strategically
smart moment" where the share prices dropped substantially due
to the ongoing crisis in Ukraine
** KBC Securities' Olivier Vandewoude notes offer may not be
"extremely dangerous", which can be understandable given current
geopolitical situation
** "I personally believe the offer is too low," De Blaere
writes, adding Van Oord, Ackermans' ACKB.BR DEME or Jan De Nul
could do a counteroffer at a higher price
** "Probably the biggest chance I would give to DEME,
supported by the holding behind it," he flags
** The stock of Boskalis, which is up by around 27%
year-to-date, is on track for its best day in 34 years, topping
Amsterdam midcap index .AMX
($1 = 0.9042 euros)
(Reporting by Clément Martinot and Juliette Portala)
((clement.martinot@tr.com))